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Oil Drilling & Gas Extraction in the US - Industry Market Research Report

  • November 2016
  • 39 pages
  • Ibisworld
Report ID: 198601

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Gassing up: Improving technology is anticipated to maximize well efficiency



Abstract

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.



Related Reports

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Petrochemical Manufacturing in the US

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Oil & Gas Field Services in the US



International Reports

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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