Industry Analysis & Industry Trends
Over the past five years, the industry has benefited from the rise in oil and natural gas prices, which has boosted extractors' demand for the industry's services. The demand for oil and natural gas will continue to grow as the economy recovers in the coming years. Nevertheless, the stringent permitting process for new offshore wells in the Gulf of Mexico will likely restrict potential revenue growth. Furthermore, increased government regulations for hydraulic fracturing are anticipated to lower the attractiveness of natural gas projects... purchase to read more
Industry Report - Industry Products Chapter
This industry primarily provides drilling and general support services for oil and natural gas extraction, but some industry operators also assist with mining and mineral ore extraction.
Oil and gas support services (excluding drilling)
The Oil and Gas Field Services industry provides support services to oil extractors. IBISWorld estimates that 47.0% of industry revenue is generated from oilfield support services. Industry firms provide well cementing, surveying, exploration and other services. Firms also provide pressure pumping services to increase oil well production... purchase to read more