Dig deep: Fluctuations in commodity prices will cause revenue volatility

Operators in the Oil Drilling & Gas Extraction industry in Colorado 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. Over the five years to 2018, the industry has declined in response to downturns in the prices of crude oil and natural gas, which fell at annualized rates of 9.8% and 13.4%, respectively...purchase to read more.

Industry Statistics & Market Size
Revenue
$9bn
Annual Growth 13-18
-8.2%
Forecast Growth 18-23
Profit
Employment
8,997
Businesses
2,608

Industry Threats & Opportunities

  • Sharp falls in oil and natural gas prices result in a similarly steep decline in demand for extracting these resources
  • Industry Report - Industry Locations Chapter

    The Oil Drilling & Gas Extraction industry in Colorado is primarily concentrated in the Central region of the state. The Central region, which is the most populated region as it contains the Denver metro area, accounts for 77.0% of industry employer establishments and 70.7% of the state's population. Major players, such as BP PLC, have set up offices in the Denver metro area as it has an educated and skilled workforce and the three interstate highways (I-25, I-70 and I-76) that go through the area make it easy to reach other parts of the state. In terms of US Census designated Metropolitan Statistical Areas (MSAs), the Denver-Aurora-Lakewood MSA holds 73.1% of state industry employer establishments...purchase to read more.

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

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

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

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    What's in this report

    What is the Oil Drilling & Gas Extraction in Colorado 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 condensate
  • Dry 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

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World price of natural gas
  • World price of crude oil
  • US oil and gas production index
  • Access to credit in Colorado

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

  • Supply Chains
    Key Buying Industries
  • Natural Gas Distribution
  • Petroleum Refining

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

  • Products & Services
  • Dry natural gas
  • Crude oil and lease condensate
  • Natural gas liquids
  • Chart: Oil Drilling & Gas Extraction in Colorado Industry Products and Services Segmentation

  • Major Markets
  • Natural Gas Distribution industry
  • Petroleum Refining industry
  • Industrial users
  • Utilities
  • Chart: Major Market Segmentation for the Oil Drilling & Gas Extraction in Colorado Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Oil Drilling & Gas Extraction in Colorado

  • Basis of Competition
    Barriers to Entry
    Anadarko Petroleum Corporation, BP PLC, Exxon Mobil Corp., ConocoPhillips Company,
  • Table: Anadarko Petroleum Corporation - financial performance
  • Table: BP PLC - financial performance
  • Table: Exxon Mobil Corp. - financial performance
  • Table: ConocoPhillips Company - financial performance

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

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

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Oil Drilling & Gas Extraction in Colorado Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • World price of natural gas (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Ethanol
  • A form of alcohol used as a fuel, which is primarily made from grains, such as corn and soybeans.
  • Liquefied Natural Gas (Lng)
  • An energy source formed by cooling natural gas to a very low temperature, at which it becomes liquid.
  • Natural Gas
  • Gases that consist primarily of methane but also include small amounts of heavier hydrocarbons such as propane and butane.
  • Offshore Platforms
  • Structures located in the ocean that are designed to extract oil or gas from underneath the seabed.
  • Oil Field
  • An underground or undersea deposit of oil contained within a stable geological formation.
  • Organization Of Petroleum Exporting Countries
  • Abbreviated as OPEC, this global organization, consisting of 12 countries, is designed to create stability and control in the petroleum markets.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Oil Drilling & Gas Extraction in Colorado provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    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 Colorado:
    • 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 Colorado 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 Colorado, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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