Field day: Declining revenue will reverse moving forward, as gas and oil prices rebound

IBISWorld’s Industry Market Report on Oil & Gas Field Services in Texas is a comprehensive guide to market size and growth prospects. Ensure due diligence in your research with our strategic analysis of the factors influencing companies, including new product developments; economic, lifestyle and demographic influences; distribution and supply chain factors; and pricing issues.


Industry Threats & Opportunities

  • Many industry operators have resorted to drastic cost-cutting measures to remain afloat
  • Opposing production trends have contributed to a significant level of revenue volatility
  • The oil and gas sector in the Lone Star State is anticipated to recover somewhat

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    Industry Analysis & Industry Trends

    Over the past five years, the Oil and Gas Field Services industry in Texas has experienced revenue declines, as a result of the ups and downs in the wider oil and gas sector during the period. Innovative production methods, such as hydraulic fracturing and directional drilling, flooded the market with oil and gas, causing prices of these commodities to plummet through 2017, slashing demand for the field support solutions provided by industry operators. Though the industry will remain volatile, it is expected to return to growth over the five years to 2022...

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    Industry Report - Industry Investment Chapter

    In addition to employing a substantial workforce, the Oil and Gas Field Services industry in Texas is highly capital intensive. In 2017, for every dollar spent on wages, the average industry operator will invest an estimated $0.38 in capital equipment. Providers of oil and gas support services rely heavily on large-scale equipment, such as onshore and offshore drilling rigs, oil well fishing tools and well-surveying equipment. At the same time, operating this equipment requires considerable amount of skill and experience, which is reflected in the large share of revenue consumed by wage costs. Capital intensity has risen over the five years to 2017 due to increased automation in the industry.


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    Additional Insights for the Oil & Gas Field Services in Texas Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Oil & Gas Field Services in Texas 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 Oil and natural gas price index and Annual Crude Oil Production in Texas in the Oil & Gas Field Services in Texas industry impact industry performance..

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    Industry Products

    What is the Oil & Gas Field Services in Texas 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 activities in Texas. Industry operators may also provide services such as drilling, taking core samples and making geological observations at prospective work sites.

    Industry Products
    Support activities for oil, gas and mining operations
    Drilling oil and gas wells
    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
  • Oil and natural gas price index
  • Annual Crude Oil Production in Texas
  • Annual Natural Gas Production in Texas
  • World price of steaming coal

  • Current Performance
  • Global oil glut
  • Slow road to recovery
  • Chart: Revenue Growth

  • Industry Outlook
  • Price comeback
  • Regulatory concerns
  • Table: Oil & Gas Field Services in Texas Industry Revenue Outlook

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

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Oil Drilling & Gas Extraction
  • Coal Mining
  • Stone Mining
  • Sand & Gravel Mining

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

  • Products & Services
  • Support activities for oil, gas and mining operations
  • Drilling oil and gas wells
  • Chart: Oil & Gas Field Services in Texas Industry Products and Services Segmentation

  • Major Markets
  • Oil extractors
  • Gas extractors
  • Mining sector
  • Chart: Major Market Segmentation for the Oil & Gas Field Services in Texas Industry

  • Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesDepreciation, rent and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Oil & Gas Field Services in Texas

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Oil & Gas Field Services in Texas Industry

  • Major Companies
    Schlumberger LimitedHalliburton CompanyBaker Hughes Inc.Weatherford International Plc.
  • Table: Schlumberger Limited - financial performance
  • Table: Halliburton Company - financial performance
  • Table: Baker Hughes Inc. - financial performance
  • Table: Weatherford International Plc. - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Oil & Gas Field Services in Texas 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 in Texas Industry
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Annual Crude Oil Production in Texas (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Day Rate
  • The daily price charged to a producer for a drill rig, drilling and associated costs of personnel and routine supplies.
  • Drilling Rig
  • A machine used to drill holes for oil and natural gas wells.
  • Hydraulic Fracturing
  • 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.
  • Proppant
  • A solid material used to wedge a fracture open during hydraulic fracturing operations. Common materials used are sand and man-made ceramic granules.
  • Semisubmersible 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.
  • 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 in Texas:
    • 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 in Texas 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 in Texas, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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