Industry Analysis & Industry Trends
Operators in the Oil and Gas Field Services industry primarily provide services to oil and gas extractors, making demand highly dependent on oil and natural gas prices. Over the past five years, divergent US and global energy prices stemming from the recession resulted in volatile year-on-year revenue growth. Nevertheless, revenue has increased overall due to steadily growing global demand for energy and recovery from recessionary lows. In the coming years, demand for oil and gas field services is projected to rise, as the global economy recovers. However, low US natural gas prices will likely continue to constrain industry growth. Stringent offshore drilling permit regulations in the Gulf Coast will also offset some revenue gains derived from an increase in crude oil prices... purchase to read more
Industry Report - Industry Products Chapter
This industry primarily provides drilling and general support services for oil and natural gas extraction, and some industry operators assist with mining and mineral ore extraction.
Oilfield support services (excluding drilling)
The Oil and Gas Field Services industry provides support services to oil extractors. IBISWorld estimates that 42.4% of industry revenue is generated from oilfield support services. Industry operators provide well cementing, surveying, exploration and other services. Companies also provide pressure-pumping services to increase oil well production... purchase to read more