2024 Oil & Gas Extraction Industry Statistics Report

Oil & Gas Extraction - Market Size and Industry Forecast

The 2024 Oil and Gas Extraction Industry Report contains historical and forecasted statistics used by leading private equity firms and consultants. Market sizes from 2019 to 2029 reflect industry trends and growth patterns. Revenues include both public and private companies in the Oil & Gas Extraction industry.

Market Size (Total Revenue)


% Growth Rate
Number of Companies
Total Employees
Average Revenue per Company
Average Employees per Company
Source: U.S. government financial data.

Industry Revenue ($ Billions)

Industry Market Size
  • 2017
  • 2018
  • 2019
  • 2020
  • 2021
  • 2022
  • 2023

Advanced econometric models forecast five years of industry growth based on short- and long-term trend analysis. Market size includes revenue generated from all products and services sold within the industry.

Oil & Gas Extraction - Geographic Breakdown by U.S. State

Market size by state reveals local opportunity through the number of companies located in the region. Each state's growth rate is affected by regional economic conditions. Data by state can be used to pinpoint profitable and nonprofitable locations for Oil & Gas Extraction companies in the United States.

Oil & Gas Extraction Revenue by State

Market Size by State

Distribution by Company Size

Company SizeAll IndustriesOil & Gas Extraction
Small Business (< 5 Employees)


Small Business (5 - 20)
Midsized Business (20 - 100)
Large Business (100 - 500)
Enterprise (> 500)

Oil & Gas Extraction - Income Statement (Average Financial Metrics)

Financial statement analysis determines averages for the following industry forces:
The report includes a traditional income statement from an "average" company (both public and private companies included).

Industry AveragePercent of Sales
Total Revenue


Operating Revenue
Cost of Goods Sold (COGS)
Gross Profit
Operating Expenses
Operating Income
Non-Operating Income
Earnings Before Interest and Taxes (EBIT)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit

Average Income Statement

Average Income Statement

Cost of Goods Sold

Salaries, Wages, and Benefits



Depreciation and Amortization

Officer Compensation

Net Income

Oil & Gas Extraction - Financial Ratio Analysis

Financial ratios allow a company's performance to be compared against that of its peers.

Financial RatioIndustry Average
Profitability Ratios


Profit Margin
Liquidity Ratios
Current Ratio
Quick Ratio
Activity Ratios
Average Collection Period
Asset Turnover Ratio
Receivables Turnover Ratio
Inventory Conversion Ratio

Oil & Gas Extraction - Compensation and Salary Surveys

TitlePercent of WorkforceBottom QuartileAverage (Median) SalaryUpper Quartile
Management Occupations10%


Chief Executives0%
General and Operations Managers3%
Business and Financial Operations Occupations13%
Business Operations Specialists6%
Financial Specialists7%
Accountants and Auditors6%
Accountants and Auditors6%
Architecture and Engineering Occupations12%
Petroleum Engineers7%
Petroleum Engineers7%
Life, Physical, and Social Science Occupations6%
Office and Administrative Support Occupations12%
Construction and Extraction Occupations16%
Extraction Workers12%
Derrick, Rotary Drill, and Service Unit Operators, Oil, Gas, and Mining7%
Production Occupations6%
Transportation and Material Moving Occupations10%
Material Moving Workers8%
Pumping Station Operators7%
Wellhead Pumpers6%

Government Contracts

In the past, the federal government spent an annual total of $32,553,975 on the oil & gas extraction industry. It has awarded 379 contracts to 38 companies, with an average value of $856,684 per company.

Oil & Gas Extraction and Adjacent Industries - Top Companies

($ Millions)


Oil & Gas Extraction Industry Research
GeographyUnited States  
Publication DateJuly 2024
Report FormatPDF Download  PDF

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