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Oil Field Drilling Services in the US - Industry Market Research Report

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    Report

  • 45 Pages
  • September 2023
  • Region: United States
  • IBISWorld
  • ID: 5521667

Black gold: Demand for oil field services is projected to recover following broad economy recovery

The industry provides support services on a fee or contract basis to companies involved in oil extraction, mining and quarrying. Since the extraction of hydrocarbons dwarves that of any other mineral or energy source in the United States, most oil field drilling service companies are concerned with providing support services strictly to oil companies. Due to this relationship, the industry is exposed to numerous endogenous and exogenous factors that factor into the success of the Oil Drilling and Gas Extraction industry (report 21111). For example, rising hydrocarbon prices often yield an increase in demand for oil field drilling services as previously unprofitable sites become attractive to producers. Still, as prices dip, demand for oil field drilling services may recede as producers become more cautious regarding extracting resources in a low-priced environment and limit drilling to only the most profitable fields. Industry revenue has plummeted at a CAGR of 7.8% over the past five years and is expected to total $51.1 billion in 2023, when revenue will fall by an estimated 10.2%.

This industry provides oil field services to companies that explore, drill and produce oil.

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's key players and their market shares.


Table of Contents

ABOUT THIS INDUSTRY
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle
PRODUCTS & MARKETS
  • Supply Chain
  • Products & Services
  • Demand Determinants
  • Major Markets
  • International Trade
  • Business Locations
COMPETITIVE LANDSCAPE
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Basis of Competition
  • Barriers to Entry
  • Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
  • Capital Intensity
  • Technology & Systems
  • Revenue Volatility
  • Regulation & Policy
  • Industry Assistance
KEY STATISTICS
  • Industry Data
  • Annual Change
  • Key Ratios
JARGON & GLOSSARY

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Halliburton Company
  • Schlumberger Limited
  • Baker Hughes Company
  • Weatherford International Plc

Methodology

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