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Oil Drilling & Gas Extraction in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Oil Drilling & Gas Extraction Market Research Report | NAICS 21111 | Jun 2016

Gassing up: Improving technology is anticipated to maximize well efficiency

IBISWorld’s Oil Drilling & Gas Extraction market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$203bn
Annual Growth 11-16
-7.4%
Annual Growth 16-21
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Profit
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Employment
131,152
Businesses
61,552
Industry Analysis & Industry Trends

The Oil and Gas Extraction industry has been challenged in recent months by a decline in oil prices. However, new technologies and extraction techniques enabled the industry to quickly recover from the negative shocks of the economic downturn and ushered in several years of strong growth. In the coming years, improving technology is anticipated to assist operators in meeting environmental concerns and maximize well efficiency; as a result, IBISWorld expects that industry companies will be able to continue operating profitably and successfully in the United States... purchase to read more

Industry Report - Industry Products Chapter

The Oil Drilling and Gas Extraction industry's main products are crude oil and natural gas, including both dry gas and natural gas plant liquids. Generally, it is not unusual for product shares in this industry to vary markedly during short periods of time depending on the pace of price movements and output trends. Such is the case with the recent outburst in natural gas availability, a trend that has driven prices down as supply has drastically increased. Elevated prices in crude oil helped it expand its share of revenue; though the price of oil collapsed beginning in late 2014 and only recovered in early 2016. However, as natural gas prices recover, IBISWorld expects natural gas to regain some of its share of industry revenue... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Oil Drilling & Gas Extraction Industry?

Companies in this industry operate and develop oil and gas field properties. Activities include the exploration and production of crude petroleum; the mining and extraction of oil from oil shale and oil sands; the exploration and production of natural gas; sulfur recovery from natural gas; and recovery of hydrocarbon liquids. Companies may operate oil and gas wells on their own account or for others on a contract or fee basis.

Industry Products
Crude oil and lease condensateNatural gas liquidsDry natural gas
 
Industry Activities
Extracting crude petroleum and natural gas Extracting natural gas liquid Exploring for crude petroleum and natural gasDrilling, completing and equipping wellsOperating separators, emulsion breakers, desilting equipment and field gathering lines for crude petroleum


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