The Artificial Lift Market sharply declined from its peak in 2014 from nearly $15 billion USD to $9 billion USD. Recently increased drilling activities have spurred a resurgence in the Artificial Lift market. However, the landscape of competition is changing to create cost-effective solutions to address the challenges of sustained oil production from longer horizontal producing wells.
All wells need artificial lift when the reservoir hydrostatic pressure has declined such that natural flow is not sufficient. The type of artificial lift depends on a plurality of well characteristics such as well pressure, fluids properties, depth of the well, vertical or horizontal, production of sand, water, and gas. The main types of artificial lift are electric submersible pumps (ESP) and reciprocating rod lift pumps (RRL). Other lift types are gas lift, hydraulic jet lift, progressive cavity pumps (PCP), plunger lift, and foam lift.
TenRivers is strategically positioned to enable innovation in production technologies improving production up-time, production volume, and reduce operational cost during the early and later stages of the well and reservoir. Our industry network and domain knowledge can get you connected with promising artificial lift digital technologies.
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