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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 | Jul 2014

Natural growth: Strong global demand and rising oil and gas prices will support industry revenue

The Oil Drilling & Gas Extraction market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Industry Statistics & Market Size
Revenue
$408bn
Annual Growth 09-14
12.8%
Annual Growth 14-19
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Profit
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Employment
144,946
Businesses
6,807
Industry Analysis & Industry Trends

Due to the economy's strong dependence on crude oil and natural gas for transport fuels and inputs, the Oil Drilling and Gas Extraction industry has fared well over the past five years. Output is projected to expand moderately over the five years to 2019 as rising crude oil production in some regions offsets falling output from others... purchase to read more

Industry Report - Industry Investment Chapter

The Oil Drilling and Gas Extraction industry is highly capital intensive. In 2014, for every dollar spent on wages, the average industry company will invest an estimated $4.62 in capital equipment. This ratio ranks this industry among the most capital intensive of all industries. Companies rely on large-scale capital equipment, rather than labor, for output. However, oil field workers also must be highly skilled and trained, which is reflected in the industry's very high average wage. In addition, the substantial capital cost of production facilities reflects the need for a high degree of reliability. Facilities operate constantly and must be resistant to corrosion. They must also be able to withstand extreme weather, both offshore and onshore... 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 oilNatural 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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