The Global Oil & Gas Drill Bits Market, 2019: Competition, Forecast & Opportunities, 2014-2024

DUBLIN–(BUSINESS WIRE)–The “Global Oil and Gas Drill Bits Market By Material (Steel, Diamond & Tungsten Carbide), By Type (Fixed Cutter Bits & Roller Cone Bits), By Application (Offshore & Onshore), By Region, Competition, Forecast & Opportunities, 2024″ report has been added to ResearchAndMarkets.com’s offering. The global oil and gas drill bits market stood at 3.3 billion in 2018 and is projected to grow at a CAGR of 6.8% during 2019-2024 to reach $ 5.5 billion by 2024, owing to increasing shale gas exploration activities and rising demand for customized drilling bits that can handle unconventional rock formation. These drill bits are widely used during shale gas exploration. With increasing shale gas exploration, the demand for these drill bits is also growing. The drill bits industry is changing rapidly with new manufacturing technology and increasing use of new materials in drill bits production process. Based on application, the global oil and gas drill bits market has been categorized into onshore drilling and offshore drilling. The onshore drilling application is expected to account for the largest market share in coming year...

Gold ‘mother lode’ unearthed underground in Kambalda delivers $15 million in just four days

Underground miners in outback Western Australia have unearthed rare gold specimens which geologists are calling a “once-in-a-lifetime discovery”. Workers at the Beta Hunt mine near the small town of Kambalda, 630 kilometres east of Perth, have brought more than $15 million worth of gold specimens to the surface in just four days. The gold-encrusted rocks were found about 500 metres below the surface in an area just three metres wide and three metres high. The quartz rock is covered in an estimated 2,300 ounces of gold worth about $3.8 million at today’s gold price. Senior geologist Zaf Thanos said in most mines around the world it is only possible to see gold through a magnifying glass. “You might go your whole life and you’ll never see anything like it. It’s definitely a once-in-a-lifetime discovery,” he said. “As a geologist, like I said, you get excited by a pinhead speck. But to see something on this scale is just phenomenal. Kambalda miner Henry Dole is credited with the discovery, describing it as hitting the “mother lode”. Mr Dole had drilled holes into the wall of the mine and planted explosives which were fire...