Since the second half of last year, the strong oil price has made the upstream oil and gas exploration and mining re-active, which will undoubtedly bring sustained benefits to the exploration and drilling equipment enterprises. The reporter learned that oil exploration and drilling equipment mainly refers to oil and gas exploration, drilling, development, storage and transportation and other special equipment, including various types of geophysical and logging equipment, drilling equipment, oil production and gas production equipment, underground operation equipment, oil and gas gathering and transportation. Equipment, offshore drilling platform equipment, and related accessories and tools. At present, most of these devices have certain domestic capabilities, and many listed companies are involved. “A sharp rise in oil prices will inevitably stimulate international oil developers to increase capital expenditures for oil exploration and excavation, while domestic oil demand is also growing strongly. With the accelerated growth of upstream oil exploration and production capital expenditures, the number of wells and wells are expected to be drilled. The number of footage will also increase rapidly, which will greatly increase the demand for drill bits," said Dongguan Securities analyst Mo Jingcheng. In his view, as the leading domestic oil drill bit manufacturer and the largest oil drill bit manufacturer in Asia and the third largest in the world, Jiang Diamond Co., Ltd. is bound to benefit from the increase in capital expenditure for oil exploration and exploitation. It is reported that the drill bit classification mainly includes two types of cone drills and diamond drill bits, and Jiang Diamond is the only company in China that can produce both drills. It is understood that the roller cone bit is the most widely used traditional drill bit in oil drilling. The volume of work done by the cone in oil and gas drilling accounts for 80%-90%. The reporter learned that the price of the cone drills of Jiang Diamond Co., Ltd. averaged 20,000-30,000 yuan, the current production capacity is 50,000, the actual production capacity is about 40,000, the domestic market share is stable at more than 60%, and the international market is stable at 10 %the above. Since the company introduced technology from Hughes in the United States very early, after years of research and development, the quality of the current product has been comparable to that of foreign countries, but the price is only 1/3 of that of Hughes, which makes it very competitive with domestic competitors. High technical barriers have obvious price advantages in the face of foreign competitors. Jiang Diamond's diamond drill products are generally sold at more than 100,000, and some even reach 500,000, but the output is only 1,000, mainly based on high-end products. At present, the company is planning to increase the investment in technology research and development of diamond drill bits, increase production capacity and increase sales scale. Insiders pointed out that the drill bit is a necessity and consumable in the LPG drilling and production process, accounting for about 4% of the drilling cost. The growth of future oil and gas exploration investment will certainly drive the growth of demand for drill bits. It is worth noting that Jiang Diamond is still breaking through the business model of single product sales, and is developing towards the model of “product sales + oilfield serviceâ€. This is in line with the trend of the industry in the eyes of observers.
Chunlei Quntification Co.,Ltd , https://www.hychunleitools.com