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 | Aug 2015

Out of gas: Plummeting oil prices will cause sharp but temporary decline in revenue

IBISWorld’s Oil Drilling & Gas Extraction market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Annual Growth 10-15
Annual Growth 15-20
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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. Although new drilling techniques have opened up previously uneconomical oil and gas deposits, price volatility is expected to cause an overall decrease in revenue over the period. Future industry performance is expected to increasingly hinge on improvements to drilling techniques; as operators deplete their reserves, it will be more important for them to improve efficiency and minimize waste. Over the next five years, an expected recovery of oil prices will drive a rapid rebound in industry revenue... purchase to read more

Industry Report - Industry Analysis Chapter

The Oil and Gas Extraction industry has benefited from improving technology and strong demand for energy products over the five years to 2015. The emergence of hydraulic fracturing and horizontal drilling has enabled industry operators to ramp up production at previously uneconomical deposits; this has helped the industry recover rapidly from the economic downturn. The United States has also increasingly emphasized energy self-sufficiency over the past five years; while trade still remains significant, industry operators have begun to shift their long-term focus toward domestic production of oil and gas products. However, revenue is projected to decline 30.4% in 2015 due to low oil prices over the year... 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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