Dissolvable Frac Plugs Industry projected to Grow with CAGR of 9.48%

Dissolvable frac plugs function like traditional frac plugs and can be placed anywhere in the wellbore to isolate individual zones. Dissolvable frac plugs are made of high-strength metals that completely dissolve in wellbore fluids.

Designed for plug and performance applications, dissolvable frac plugs are made from new high-strength engineering metals that dissolve in well fluids, formation fluids, or water-based production fluids. Completely dismantling the frac plug eliminates the need for another milling barrel intervention in the well, helping reduce costs, uptime and risk to personnel.

Dissolvable frac plugs generally range from 4.5 to 6 inches in diameter and 8 to 20 inches in length. A single well requires between 10 and 40 multi-piece frac plugs to pressurize and drill multiple oil and gas producing formations, also called steps. Hydraulic fracturing, also known as fracturing, hydrofracking, or hydrofracturing, is a well stimulation technique used to produce oil and gas from tight reservoirs. In this process, rocks are crushed by pressurized liquids. A fracking fluid is injected into the wellbore at high pressure, causing cracks in deep rock formations. These cracks allow natural gas, oil and brine to flow more freely. Well completion techniques such as plugs and puffs are most commonly used to increase overall hydraulic fracturing productivity and improve hydrocarbon flow. This process positions the bridge plug and drill gun at the desired location in the wellbore. Frac plugs are used as temporary barriers to separate zonal stages during the crushing or stimulation process. Once the plug is set and the zone is pierced, the ball is pumped down and the zone under the plug is separated. A ball-actuated plug diverts fracturing fluid through the borehole and into the formation. After all stages are completed, the process repeats. Development of the soluble jumper plug market has benefited from the development of unconventional oil and gas wells, especially shale gas wells.

From 2021 onwards, COVID-19 will restart global production, oil and gas demand growth will outpace production growth, the global energy crisis will worsen, and oil and gas prices will rise. continue. Profits for global oil and gas operators increased, and inventories of drilled but unfinished wells fell significantly. In addition, major economies implemented loose fiscal and monetary policies during the outbreak to stimulate their economies and strongly support international oil prices. Therefore, the number of new wells is expected to increase worldwide to improve the market demand for soluble frac plugs.

Global Dissolvable Frac Plugs Market Size is Estimated at USD 298.13 Million in 2022, Newly Adjusted Size to Reach USD 513.01 Million by 2028, Growing at a CAGR of 9.47% During the Period It is predicted that

Leave a Reply