We estimate that there are more than 1.3 million oil and gas wells in North America, with 45 to 50,000 new wells added annually and we estimate our current market penetration is still well below 5%."
Two questions…
With the advent of pad drilling & stacked/multi laterals how will that impact the numbers of burners actually required…my guess would be less than the number of new wells might imply, although it may have a positive impact with regards to the level of sophistication of the management desired.
Also, what is the source for the number of new wells? Honestly I have no idea, but if I’m reading this correctly RBC numbers aren’t even in the same ballpark as Profire’s and with Canada’s market maybe being a third of the US that wouldn’t explain the discrepancy either.
http://www.platts.com/latest-news/oil/houston/feature-analys…
B