Oil and gas companies are making significant strides in shale operations through cutting-edge technologies and strategic deals. Recent advancements include Schlumberger Ltd.’s oilfield brine processing systems, ProFrac Holding Corp.’s electric-powered pumps, and McClinton Energy Group LLC’s modular connection systems. Additionally, new tools from Fuji Oil Holdings Inc. and the Southwest Petroleum Institute are optimizing gas production and well management, while trends in hiring reflect the sector’s evolving needs. GlobalData’s shale market report provides comprehensive analysis of the market. Buy the report here.
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This article presents a quarterly round-up of the latest trends in the oil & gas industry regarding shale. It provides an overview of recent developments in shale-related deals, talent acquisition, and patent filings within the oil & gas industry.
Diverse applications of shale in oil & gas industry
Oil and gas companies are advancing their shale operations through innovative technologies highlighted in recent patents. Schlumberger Ltd. has developed systems for processing oilfield brine, enabling the extraction of desalinated water and solid-state salt, which can enhance hydraulic fracturing efficiency. ProFrac Holding Corp. introduces electric-powered pumps for improved fluid pressurization in wellbores, streamlining operations. McClinton Energy Group LLC's modular connection systems facilitate cost-effective and safer hydraulic fracturing by allowing fluid rerouting among multiple wells. Additionally, Fuji Oil Holdings Inc. has created time-released tracers for monitoring gas production, enhancing recovery strategies. Lastly, the Southwest Petroleum Institute's life cycle evaluation method for horizontal wells optimizes production tracking, ensuring better resource management throughout the well's lifespan.
The industry experienced a 20% decline in the number of shale-related patent applications in Q2 2024 compared with the previous quarter. On an annual basis, the number of shale-related patent applications in the oil & gas industry witnessed a rise of 2% compared with Q2 2023.
Strategic deal trends in shale in oil & gas industry
Oil & Gas companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in shale. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of shale in the oil & gas industry.
In Q2 2024, the number of shale-related deals in the oil & gas industry declined by 54% compared with Q2 2023. On a quarterly basis, there was 19% drop in the number of deals in Q2 2024 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q2 2024, the oil & gas industry experienced a 17% drop compared with the previous quarter. On an annual basis, job postings also declined by 36%. Notably, architecture and engineering occupations, with a share of 15%, emerged as the top shale-related job roles within the oil & gas industry in Q2 2024, with new job postings rising by 48% quarter-on-quarter. Life, physical, and social science occupations came in second with a share of 7% in Q2 2024, with new job postings dropping by 34% over the previous quarter. The other prominent shale roles include construction and extraction occupations with a 7% share in Q2 2024, and installation, maintenance, and repair occupations with a 6% share of new job postings.
Murphy Oil, ConocoPhillips, Occidental Petroleum, Chord Energy, and Halliburton are among the top companies leading in shale hiring within the oil & gas industry.
Countries driving adoption of shale in oil & gas industry
The US is the leading country in shale adoption within the oil & gas industry, boasting the highest number of shale-related patents, jobs, and deals. Meanwhile, Australia, Canada, China and Italy also maintain significant positions in shale adoption within the oil & gas industry.
The shale sector in the oil & gas industry is evolving with advancements in technology, strategic investments, and shifting hiring trends. Despite recent declines in patent applications and deals, the industry remains dynamic with ongoing innovations and key players driving adoption.
To further understand GlobalData's analysis on shale in the oil & gas industry, buy the report here.
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GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
