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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 | Jul 2014

Natural growth: Strong global demand and rising oil and gas prices will support industry revenue

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
Industry Statistics & Market Size
Revenue
$408bn
Annual Growth 09-14
12.8%
Annual Growth 14-19
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Profit
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Employment
144,946
Businesses
6,807
Industry Analysis & Industry Trends

Due to the economy's strong dependence on crude oil and natural gas for transport fuels and inputs, the Oil Drilling and Gas Extraction industry has fared well over the past five years. Output is projected to expand moderately over the five years to 2019 as rising crude oil production in some regions offsets falling output from others... purchase to read more

Industry Report - Industry Locations Chapter

The geographic spread of the local Oil Drilling and Gas Extraction industry essentially reflects the distribution of oil and gas resources. The importance of various producing regions varies over time, as reserves come into production and some fields are depleted.

The Southwest accounts for the largest share of industry output and revenue. It is expected to generate about 44.0% of industry revenue in 2014, down from about 47.0% in 2009, mainly due to lower gas output. The main producing state within this region is Texas, which accounts for one-third of the total value of output. The next largest oil and gas producing region is the Southeast, in which about 23.0% of revenue will be generated in 2014, mainly due to rising natural gas output... 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 oilNatural 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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