The global oil & gas industry experienced a 23% decline in the number of shale-related patent applications in Q1 2023 compared with the previous quarter. The total number of shale-related grants dropped by 33% in Q1 2023, according to GlobalData’s Patent Analytics. GlobalData’s United States of America (USA) Lower 48 Unconventional Oil and Gas (Major Shale Plays) Market Analysis and Forecast, 2021-2026 report provides a comprehensive analysis of crude oil and natural gas historical production in US L48 shale plays. It includes deatials on the latest M&A activity across major shale plays and top companies’ net acreage, and planned capital expenditures. Buy the report here.
Notably, the number of shale-related patent applications in the oil & gas industry was 240 in Q1 2023, versus 312 in the prior quarter.
The top five companies accounted for 29% of patenting activity
Analysis of patenting activity by companies shows that China National Petroleum filed the most shale patents within the oil & gas industry in Q1 2023. The company filed 24 shale-related patents in the quarter, compared with 31 in the previous quarter. It was followed by Halliburton with 14 shale patent filings, China Petrochemical (13 filings), and Ministry of Education of the People's Republic of China (10 filings) in Q1 2023.
Patenting activity was driven by China with a 67% share of total patent filings
The largest share of shale related patent filings in the oil & gas industry in Q1 2023 was in China with 67%, followed by the US (6%) and Australia (3%). The share represented by China was 8% higher than the 59% share it accounted for in Q4 2022.
For further understanding of GlobalData's United States of America (USA) Lower 48 Unconventional Oil and Gas (Major Shale Plays) Market Analysis and Forecast, 2021-2026 buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
