As oil and gas production companies look for efficient and cost-effective methods of increasing their output, the well intervention market is set to get a healthy boost. Spending on interventions – a way to extract additional resources from an existing well instead of drilling a new one – is projected to jump by almost 20% this year and total $58 billion. Rystad Energy’s modeling shows this is just the start of a surge in the coming years as the focus on efficiency intensifies. The intervention rate – how many oil and gas…

via OilPrice https://ift.tt/OVv8eWM