It's a gas: Industry set to return to revenue growth moving forward as commodity prices rebound

The Oil and Gas Extraction industry has been challenged in recent years by a decline in oil and natural gas prices, and revenue contracted over the past five years due to steep price drops in 2015 and 2016. However, domestic production of oil and gas steadily increased over the five years to 2017, and industry operators positioned themselves to perform strongly as prices rise over the five years to 2022. Moving forward, the industry is also expected to increasingly hinge on improvements in drilling technology and techniques. As industry operators deplete their reserves, it will become necessary to improve efficiency and minimize waste. Over the five years to 2022, IBISWorld expects industry revenue to rebound in line with an expected increase in commodity prices...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22

Industry Threats & Opportunities

  • The future of the industry is expected to increasingly hinge on improvements in drilling technology
  • This industry is highly dependent on global trends in energy demand
  • China is expected to continue driving industry demand over the next five years, along with India
  • Industry Report - Starting a New Business Chapter

    There are substantial barriers to entry to the Oil Drilling and Gas Extraction industry. These include the high-risk nature of oil and gas exploration and development, the difficulty in locating economically viable deposits and the large amounts of capital companies require bringing fields into production. In addition, many of the major oil and gas producers are vertically integrated companies, with interests in downstream operations, such as petroleum refining and marketing. New entrants lacking such linkages may find it difficult to penetrate the market.While the existence of large international oil companies in the industry is undoubtedly a significant deterrent to market entry, there are opportunities available for smaller companies to enter the market. The...purchase to read more.

    Additional Insights for the Oil Drilling & Gas Extraction Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Oil Drilling & Gas Extraction 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 crude oil and World price of natural gas in the Oil Drilling & Gas Extraction industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What's in this report

    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 condensate
  • Natural gas liquids
  • Dry natural gas
  • 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 crude oil
  • World price of natural gas
  • World production of oil
  • Regulation for the Petrochemical Manufacturing industry
  • Total vehicle miles
  • Trade-weighted index

  • Current Performance
  • Constrained profitability
  • A global industry
  • Trade’s growing importance
  • Chart: Revenue Growth

  • Industry Outlook
  • Global demand controls the industry
  • Rising output
  • Minor competition
  • Table: Oil Drilling & Gas Extraction Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Oil Drilling & Gas Extraction 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
  • Crude oil and lease condensate
  • Dry natural gas
  • Natural gas liquids
  • Chart: Oil Drilling & Gas Extraction Industry Products and Services Segmentation

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

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Depreciation, and other costs
  • Wages
  • All Other
  • Chart: Cost Structure Benchmarking – Sector vs Oil Drilling & Gas Extraction

  • Basis of Competition
  • Price competition
  • Oil grades
  • Impurities
  • Security

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Oil Drilling & Gas Extraction Industry

  • Industry Globalization
    ConocoPhillips Company, BP PLC, Exxon Mobil Corp., Chevron Corp.,
  • Table: ConocoPhillips Company - financial performance
  • Table: BP PLC - financial performance
  • Table: Exxon Mobil Corp. - financial performance
  • Table: Chevron Corp. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Oil Drilling & Gas Extraction 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 Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • World production of oil (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
  • 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 Oil Drilling & Gas Extraction 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.

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

    Contact Us

    Want to speak to a representative? Call us.