Oil & Gas Field Services in Texas - Industry Market Research Report

Oil & Gas Field Services in Texas

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. Oil and gas prices are expected to rebound as a result of the Organization of Petroleum Exporting Countries' production cuts, which, in combination with a strengthening global demand for energy, will increase demand for industry services and revenue.

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.

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.