Industry Analysis & Industry Trends
Despite a dip during the recession, the industry has experienced overall growth in the past five years. Currently, industry firms are acquiring natural gas wells with the expectation that natural gas prices will rise to meet demand from electricity generators and other downstream customers. During the next five years, industry performance will gain ground in response to rising oil and gas prices and higher levels of output. Increases in oil and gas prices are projected to occur on the back of sustained global economic growth as emerging economies grow rapidly and developing countries expand... purchase to read more
Industry Report - Industry Key Buyers Chapter
Concentration in the Oil Drilling and Gas Extraction industry is low, with the four largest firms estimated to account for just more than 30.0% of industry revenue. Nonetheless, the industry is the province of large firms, most of which have worldwide operations. Low concentration reflects the industry's large size and its dispersion across the nation, making it difficult for even major oil companies to control more than a small share of output. During the five years to 2013, market concentration has increased as a result of consolidation in the sector. High crude oil prices laid the basis for firms to expand operations to meet demand... purchase to read more