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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 | Feb 2015

Out of gas: Plummeting oil prices will cause industry revenue to decline

IBISWorld’s Oil Drilling & Gas Extraction market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Industry Statistics & Market Size
Revenue
$320bn
Annual Growth 10-15
2.6%
Annual Growth 15-20
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Profit
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Employment
130,163
Businesses
6,650
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 2020 as rising crude oil production in some regions offsets falling output from others... purchase to read more

Industry Report - Industry Products Chapter

The Oil Drilling and Gas Extraction industry's main products are crude oil (including natural gas plant liquids) and natural gas. 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 have helped it expand its share of revenue; however, as natural gas prices recover, IBISWorld expects natural gas to regain 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 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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