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Coil Tubing Gains Market Share As Permian Turns

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By Richard Mason, Hart Energy
December 23, 2013

The persistent oversupply of Permian Basin workover rigs remains in place while contractors face new competition from the growing use of coil tubing in completion work as the region transitions to horizontal drilling.

Those are the findings from a series of interviews conducted by Hart Energy Research in the Permian Basin.

To be sure, the workover market is still oversupplied with equipment. However wait lists for workover rigs decreased from 60 to 90 days previously to about a week currently with multiple options available to operators who are seeking call ...

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