Operators in the Oil and Gas Field Services industry primarily provide services to oil and gas extractors, making demand highly dependent on oil and natural gas prices. Over the past five years, divergent US and global energy prices stemming from the recession resulted in volatile year-on-year revenue growth. Nevertheless, revenue has increased overall due to steadily growing global demand for energy and recovery from recessionary lows. In the coming years, demand for oil and gas field services is projected to rise, as the global economy recovers. However, low US natural gas prices will likely continue to constrain industry growth. Stringent offshore drilling permit regulations in the Gulf Coast will also offset some revenue gains derived from an increase in crude oil prices.
Operators in this industry provide support services on a fee or contract basis to companies involved in oil and gas extraction, mining and quarrying. 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.