Overview

Gassing up: Improving technology is anticipated to maximize well efficiency

IBISWorld’s Oil Drilling & Gas Extraction market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • The future of oil and gas is expected to increasingly hinge on improvements to drilling technology and techniques
  • This industry is highly dependent on global trends in energy demand
  • Revenue is expected to expand alongside continued oil and natural gas price increases

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    Industry Analysis & Industry Trends

    The Oil and Gas Extraction industry has been challenged in recent years by a decline in oil and natural gas prices. Domestic production of oil and gas steadily increased over the five years to 2016, and industry operators positioned themselves to perform strongly as prices rise over the five years to 2021. Though the industry remains exposed to global commodity price fluctuations, IBISWorld expects that the industry will continue to profit from its highly lucrative operations. In the five years to 2016, industry revenue is expected to decrease. The future of oil and gas is 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...

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    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 20.7% 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. Over the five years to 2016, market concentration decreased slightly as formerly integrated companies, such as ConocoPhillips and Hess, divested downstream segments to maximize efficiency and operating margins.

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    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..

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    Industry Products

    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

    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
  • 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
  • Profit flowing
  • 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

  • Products & Markets
    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
  • Utilities
  • Chart: Major Market Segmentation for the Oil Drilling & Gas Extraction Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesDepreciation, wages and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Oil Drilling & Gas Extraction

  • Basis of Competition
    Price competitionOil gradesImpuritiesSecurity
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Oil Drilling & Gas Extraction Industry

  • Industry Globalization
    Major Companies
    ConocoPhillipsBP PLCChevron Corp.
  • Table: ConocoPhillips - financial performance
  • Table: BP PLC - financial performance
  • Table: Chevron Corp. - financial performance

  • Operating Conditions
    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
    Key Statistics
    Table: Industry Data for the Oil Drilling & Gas Extraction Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Exports (2007-2021)
  • Imports (2007-2021)
  • Wages (2007-2021)
  • World production of oil (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Jargon & Glossary
    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.
  • 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:
    • 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.

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