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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 | Jun 2016

Gassing up: Improving technology is anticipated to maximize well efficiency

IBISWorld’s Oil Drilling & Gas Extraction market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Annual Growth 11-16
Annual Growth 16-21
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Industry Analysis & Industry Trends

The Oil and Gas Extraction industry has been challenged in recent months by a decline in oil prices. However, new technologies and extraction techniques enabled the industry to quickly recover from the negative shocks of the economic downturn and ushered in several years of strong growth. In the coming years, improving technology is anticipated to assist operators in meeting environmental concerns and maximize well efficiency; as a result, IBISWorld expects that industry companies will be able to continue operating profitably and successfully in the United States... purchase to read more

Industry Report - Industry Analysis Chapter

The Oil and Gas Extraction industry benefited from improving technology and strong demand for energy products over the five years to 2016. The emergence of hydraulic fracturing and horizontal drilling enabled industry operators to ramp up production at previously uneconomical deposits. The United States also increasingly emphasized energy self-sufficiency over the past five years; while trade still remains significant, industry operators began to shift their long-term focus toward domestic production of oil and gas products. However, revenue fell 42.2% in 2015, and is expected to decline an additional 18.4% over 2016, due to persistently low oil and gas prices... 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 oil and lease condensateNatural gas liquidsDry natural 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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