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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

The Oil Drilling & Gas Extraction market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$203bn
Annual Growth 11-16
-7.4%
Annual Growth 16-21
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Profit
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Employment
131,152
Businesses
61,552
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 Key Buyers Chapter

Concentration in the Oil Drilling and Gas Extraction industry is low, with the four largest companies estimated to account for nearly 22.3% of industry revenue. Nonetheless, the industry is the province of large companies, 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 2016, market concentration has decreased slightly as formerly integrated companies, such as ConocoPhillips and Hess, divested downstream segments to maximize efficiency and operating margins... 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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