Overview

Overflow: Due to a glut in oil and gas, operators are cutting production to improve prices

IBISWorld’s Oil Drilling & Gas Extraction in California Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • The recent oversupply slashed oil and gas prices, exacerbated production costs and limited profit margins
  • Recovering prices of crude oil and natural gas will help reduce volatility in the market
  • The annual crude oil production in California is anticipated to subside slowly

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    Industry Analysis & Industry Trends

    The Oil Drilling and Gas Extraction industry in California has been challenged by a number of factors in the five years to 2017, and profit margins have taken a substantial hit. Industry operators were challenged by the same issues as their counterparts nationwide, as innovative production techniques like hydraulic fracturing and directional drilling have flooded the market with low-cost oil and gas, in turn slashing their respective prices. More specifically, starting in 2014, the oversupply in crude oil and natural gas slashed commodity prices. As a result, industry revenue has declined in the past five years...

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    Industry Report - Starting a New Business Chapter

    Barriers to entry into the Oil Drilling and Gas Extraction industry in California are high. The capital intensity of oil and gas production prevents new players from easily entering the industry. Furthermore, the strict regulatory environment translates into significant compliance costs. Identifying economically viable deposits can be challenging as well, which makes oil and gas extraction a high-risk venture. In terms of competitive pressures, industry incumbents not only compete against each other, but also against other energy sources.

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    Additional Insights for the Oil Drilling & Gas Extraction in California Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Oil Drilling & Gas Extraction in California Industry are

  • Economies of scale
  • Downstream ownership links
  • Ability to find new resource deposits
  • IBISWorld analysts also discuss how external factors such as Oil and natural gas price index and Annual Crude Oil Production in California in the Oil Drilling & Gas Extraction in California industry impact industry performance..

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    Industry Products

    What is the Oil Drilling & Gas Extraction in California Industry?

    Companies in this industry operate and develop oil and gas field properties in California. 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
    Natural Gas
    Natural Gas Liquids
    Industry Activities
    Extracting crude petroleum and natural gas
    Extracting natural gas liquid
    Exploring for crude petroleum and natural gas
    Drilling, completing and equipping wells
    Operating separators, emulsion breakers, desilting equipment and field gathering lines for crude petroleum

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Oil and natural gas price index
  • Annual Crude Oil Production in California
  • Total vehicle miles
  • US energy production

  • Current Performance
  • Production changes
  • Recovering prices
  • Chart: Revenue Growth

  • Industry Outlook
  • Regulatory hurdles
  • Price comeback
  • Table: Oil Drilling & Gas Extraction in California Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Oil Drilling & Gas Extraction in California Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Natural Gas Distribution
  • Petroleum Refining

  • Key Selling Industries
  • Metal Pipe & Tube Manufacturing
  • Mining, Oil & Gas Machinery Manufacturing
  • Oil & Gas Field Services
  • Pump & Compressor Manufacturing

  • Products & Services
  • Crude Oil
  • Natural Gas
  • Natural Gas Liquids
  • Chart: Oil Drilling & Gas Extraction in California Industry Products and Services Segmentation

  • Major Markets
  • Petroleum Refining industry
  • Exports
  • Natural Gas Distribution industry
  • Other
  • Chart: Major Market Segmentation for the Oil Drilling & Gas Extraction in California Industry

  • Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitDepreciationPurchasesWages and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Oil Drilling & Gas Extraction in California

  • Basis of Competition
    PriceQualityExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Oil Drilling & Gas Extraction in California Industry

  • Major Companies
    Aera Energy LLCChevron Corp.California Resources CorporationFreeport-McMoRan Copper & Gold Inc.
  • Table: Aera Energy LLC - financial performance
  • Table: Chevron Corp. - financial performance
  • Table: California Resources Corporation - financial performance
  • Table: Freeport-McMoRan Copper & Gold Inc. - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Oil Drilling & Gas Extraction in California Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Oil Drilling & Gas Extraction in California Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Annual Crude Oil Production in California (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Directional Drilling
  • Also known as slant drilling; a process by which non-vertical wells are drilled.
  • Hydraulic Fracturing
  • A hydrocarbon-extracting process in which massive amounts of fluid are pumped into a well at high pressures, which causes the reservoir formation to fracture.
  • Natural Gas
  • Gases that consist primarily of methane but also include small amounts of heavier hydrocarbons such as propane and butane.
  • Oil Field
  • An underground or undersea deposit of oil contained within a stable geological formation.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Oil Drilling & Gas Extraction in California:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Oil Drilling & Gas Extraction in California market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Oil Drilling & Gas Extraction in California, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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