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Gassing up: Improving technology is anticipated to maximize well efficiency
Oil Drilling & Gas Extraction in the US
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. In the five years to 2021, IBISWorld expects industry revenue to expand.
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.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Petroleum Refining in the US
Petrochemical Manufacturing in the US
Oxygen & Hydrogen Gas Manufacturing in the US
Oil & Gas Field Services in the US
Global Oil & Gas Exploration & Production
Oil & Gas Drilling in China
Oil and Gas Extraction in Australia
Oil & Petroleum Refining in China
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Oil And Gas