Definition
This industry consists of firms that operate and/or develop oil and gas fields and firms that extract liquid hydrocarbons from oil and gas field gases. The activities firms engage in may include: exploration for crude petroleum and natural gas; drilling, completing, and equipping wells; operating separators, emulsion breakers, desilting equipment, and field gathering lines for crude petroleum; and all other activities required for the preparation of oil and gas up to the point of shipment from the producing property. In addition to the recovery of crude petroleum, this industry engages in the mining and extraction of oil from oil shale and oil sands, the production of natural gas and the recovery of hydrocarbon liquids from oil and gas field gases. Firms may operate oil and gas wells on their own account or for others on a contract or fee basis.

IBISWorld research reports contain trend analysis, statistics, market size information, industry growth rates as well as market share of competitors.

Major market segments are identified and also those forces affecting demand and supply within the industry. Performance analysis includes emerging industry trends as well as recent results and performance of each key company. Drawing on the depth of information IBISWorld also provides 5 year forecasts for each industry.

Each comprehensive study also examines details such as the barriers to entry, operating cost structure, technology & systems and domestic & international markets. Tables and statistics include: Industry revenue, exports, imports, wages and number of companies in the industry, Industry growth and geographic regional data.

Each comprehensive study also examines details such as the barriers to entry, operating cost structure (including averages), technology & systems and domestic & international markets. Tables and statistics include: Industry revenue, exports, imports, wages and number of companies in the industry, Industry growth and geographic location.