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As per the analysis by IMARC Group, the top oilfield equipment rental companies are offering machines with innovative features, such as horizontal and directional drilling, which can be attached with a mud motor and Universal Bottom Hole Orientation (UBHO) equipment. They are also engaging in collaborations and partnerships to expand their consumer base. For instance, Technip FMC recently entered into a five-year surface technology frame agreement with Chevron, under which the company will supply surface wellhead equipment and services in the United States and Canada. Looking forward, IMARC Group expects the market value to reach 29.59 Billion by 2027, exhibiting a CAGR of 4.2% during the forecast period (2022-2027).

Circle T service and Rental Ltd. provides oilfield equipment rentals for drilling, completions, and workovers in the oil and gas industry. It offers an expansive inventory of specialized equipment and tools such as swivels, accumulators, tanks, gauges, BOP rams, choke manifolds, flanges, valves, tubular, and other miscellaneous products. The company uses innovation, engineering, advanced technology, and quality-controlled manufacturing processes to provide the industry"s most efficient and cost-effective oilfield tools.

Schlumberger Limited provides technology for the energy industry worldwide. It operates through four divisions, namely digital and integration, reservoir performance, well construction, and production systems, where it offers asset performance solutions, open and cased-hole services, exploration and production pressure and flow-rate measurement services, well stimulation, pressure pumping, coiled tubing equipment, reservoir monitoring, downhole data acquisition, and integrated production systems. Presently, the company provides its products and services in more than 120 countries across the globe.

Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators across the globe. It offers pressure pumping, contract drilling, and directional drilling services in Texas and the Appalachian region. The company acquired Seventy-Seven Energy Inc. in 2017 to strengthen its position as a leading high-spec drilling company and gain one of the largest and most modern pressure pumping fleets in the industry.

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