Industry Analysis & Industry Trends
In 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. 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 Locations Chapter
The industry's geographic spread reflects that of the Oil Drilling and Gas Extraction industry due to the importance of that market in driving demand for oil and gas field support services.
Accordingly, the Southwest area accounts for about 47.2% of industry establishments and 54.8% of industry employment, largely due to the dominance of Texas as a gas and oil producer. Texas alone accounts for 31.2% of total establishments and 41.0% of employment.
The next most significant area for the Oil and Gas Field Services industry is the Southeast, which accounts for 18.3% of industry establishments. Activity in the Southeast is concentrated in Louisiana, which is home to 8.8% of establishments and 12.7% of industry employees... purchase to read more