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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

IBISWorld’s Oil Drilling & Gas Extraction market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

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 SWOT Analysis Chapter

The Oil Drilling and Gas Extraction industry is in the mature phase of its life cycle. Industry value added (IVA), a measure of the industry's contribution to the overall economy, is expected to grow at an annualized rate of 6.8% in the 10-year period to 2019. US GDP is expected to grow 2.5% annually on average during the same period. The importance of oil and gas extraction will continue to ensure the relevance of this industry. Recent discoveries in the Bakken oil field in North Dakota and the Appalachian basin have bolstered the United States' supply of natural gas resources. Improved technologies have allowed companies to use horizontal drilling and hydraulic fracturing to extract previously uneconomical supplies from shale formations in these regions... 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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