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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 | Nov 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 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
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 - Starting a New Business Chapter

There are substantial barriers to entry to the Oil Drilling and Gas Extraction industry. These include the high-risk nature of oil and gas exploration and development, the difficulty in locating economically viable deposits and the large amounts of capital companies require bringing fields into production. In addition, many of the major oil and gas producers are vertically integrated companies, with interests in downstream operations, such as petroleum refining and marketing. New entrants lacking such linkages may find it difficult to penetrate the market.

While the existence of large international oil companies in the industry is undoubtedly a significant deterrent to market entry, there are opportunities available for smaller companies to enter the market... 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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