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... 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