Overview

Digging deep: Rising demand will aid the industry, but regulation will limit growth

IBISWorld’s Oil & Gas Field Services 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

Industry Threats & Opportunities

  • Demand will increase, but persistently low natural gas prices will constrain growth
  • Industry operators increasingly attempted to cut costs as demand plummeted
  • The industry is poised to benefit from strong production levels of oil and gas

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    Industry Analysis & Industry Trends

    Operators in the Oil and Gas Field Services industry primarily provide services to oil and gas extractors, making demand highly dependent on oil and natural gas prices. Over the past five years, divergent US and global energy prices stemming from the recession resulted in volatile year-on-year revenue growth. Nevertheless, revenue has increased overall due to steadily growing global demand for energy and recovery from recessionary lows. In the coming years, demand for oil and gas field services is projected to rise, as the global economy recovers. However, low US natural gas prices will likely continue to constrain industry growth. Stringent offshore drilling permit regulations in the Gulf Coast will also offset some revenue gains derived from an increase in crude oil prices...

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    Industry Report - Industry Locations Chapter

    The industry's geographic spread reflects that of the Oil Drilling and Gas Extraction industry due to the importance of that market in driving demand for oil and gas field support services.

    Accordingly, the Southwest area accounts for 51.0% of industry establishments and 56.2% of industry employment, largely due to the dominance of Texas as a gas and oil producer. Texas alone accounts for 34.3% of total establishments and 43.8% of employment.

    The next most significant area for the Oil and Gas Field Services industry is the Southeast, which accounts for 16.0% of industry establishments. Activity in the Southeast is concentrated in Louisiana, which is home to 8.0% of establishments and 11.6% of industry employees. Sim..

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    Additional Insights for the Oil & Gas Field Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Oil & Gas Field Services Industry are

  • Having a high prior success rate (including completed prior contracts)
  • Use of most efficient work practices
  • Optimum capacity utilization
  • IBISWorld analysts also discuss how external factors such as US oil and gas production index and Price of natural gas in the Oil & Gas Field Services industry impact industry performance..

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    Industry Products

    What is the Oil & Gas Field Services Industry?

    Operators in this industry provide support services on a fee or contract basis to companies involved in oil and gas extraction, mining and quarrying. Industry operators may also provide services such as drilling, taking core samples and making geological observations at prospective work sites.

    Industry Products
    Oilfield support services
    Oil drilling services
    Natural gas well support services
    Natural gas drilling services
    Coal mining support
    Metallic ore mining support
    Nonmetallic ore mining support
    Industry Activities
    Drilling oil and gas wells
    Surveying wells
    Running, cutting and pulling casings, tubes and rods
    Cementing wells
    Perforating well casings
    Acidizing and chemically treating wells
    Coal exploration
    Metal ore exploration
    Nonmetallic mineral ore exploration
    Contract mining

    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
  • US oil and gas production index
  • Price of natural gas
  • World price of crude oil
  • Regulation for the Mining sector

  • Current Performance
  • Competition intensifies
  • Production trends upward
  • Wages and profitability
  • Regulatory concerns
  • Chart: Revenue Growth

  • Industry Outlook
  • Production remains strong
  • Price exposure and profitability
  • Regulatory concerns
  • Table: Oil & Gas Field Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Oil & Gas Field Services Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Oil Drilling & Gas Extraction
  • Coal Mining
  • Gold & Silver Ore Mining
  • Molybdenum & Metal Ore Mining
  • Sand & Gravel Mining

  • Key Selling Industries
  • Engineering Services
  • Geophysical Services
  • Mining, Oil & Gas Machinery Manufacturing
  • Ocean & Coastal Transportation
  • Surveying & Mapping Services

  • Products & Services
  • Oilfield support services
  • Natural gas well support services
  • Oil drilling services
  • Natural gas drilling services
  • Metallic ore mining support
  • Coal mining support
  • Nonmetallic ore mining support
  • Chart: Oil & Gas Field Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Oil extractors
  • Gas extractors
  • Metallic ore mining industry
  • Coal mining industry
  • Nonmetallic ore mining industry
  • Chart: Major Market Segmentation for the Oil & Gas Field Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation
  • Marketing and rent and utilities
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Oil & Gas Field Services

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Oil & Gas Field Services Industry

  • Industry Globalization
    Major Companies
    Halliburton CompanySchlumberger LimitedBaker Hughes Inc.
  • Table: Halliburton Company - financial performance
  • Table: Schlumberger Limited - financial performance
  • Table: Baker Hughes Inc. - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Oil & Gas Field Services 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 & Gas Field Services Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • World price of crude oil (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Jargon & Glossary
    Day Rate
  • The daily price charged to a producer for a drill rig, drilling and associated costs of personnel and routine supplies.
  • Daywork Contract
  • A work agreement that outlines a basic day rate when drilling and lower rates when the rig is moving or when drilling operations are interrupted or restricted.
  • Drilling Rig
  • A machine used to drill holes for oil and natural gas wells.
  • Drillship
  • A ship fitted with oil and gas drilling equipment.
  • Hydraulic Fracturing (Fracking)
  • The process of using pressurized water, chemical additives and propping agents to fracture rock layers and release petroleum, natural gas or other substances so that they can be extracted.
  • Jack-Up Rig
  • An offshore oil rig with a floating hull and retractable legs that can be lowered to the seabed for support.
  • Semi-Submersible Rig
  • A mobile offshore drilling or production unit that floats on the water's surface above the subsea wellhead and is held in position either by anchors or dynamic positioning.
  • Well Logging
  • The practice of making a detailed record (a well log) of the geologic formations penetrated by a borehole.
  • Workover
  • The repair or stimulation of an existing production well for the purpose of restoring, prolonging or enhancing the production of hydrocarbons.
  • 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 & Gas Field Services:
    • 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 & Gas Field Services 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 & Gas Field Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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