The Unites States market size is expected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising oil & gas consumption due to the strong economy recovery and increasing population in the country.
Upstream refers to foremost operations stage in the oil & gas industry that involves exploration and production. Upstream, midstream, and downstream are the three segments of the oil & gas industry. Upstream stage includes drilling activities. It is farthest stage of operation from the end-user consumer in the oil & gas supply chain. Upstream is followed by midstream and downstream, which includes transportation of crude oil stage and refining and distribution phases respectively.
The upstream segment of the oil & gas industry consists of exploration activities, such as creating geological surveys and obtaining land rights, and production activities, which include onshore and offshore drilling. Oil & gas exploration involves siting potential locations for oil & gas drilling and extraction. Geological surveys are conducted using various methods such as testing subsoil for onshore exploration and seismic imaging for offshore exploration. Majority of the oil & gas production in the US relies on onshore activities.
The wells are grouped together in a field, ranging from a half acre per well for heavy crude oil to 80 acres per well for natural gas, in onshore drilling. The group of wells are connected by carbon steel tubes, which consist of the oil & gas to a production and processing facility through a chemical and heating process. Onshore production companies can turn on and off rigs more easily than offshore rigs, in response to the market conditions. Offshore drilling uses a single platform that consists of fixed or mobile support. It is a mechanical process where a wellbore is drilled below the seabed. It is carried out to explore and subsequently extract petroleum that lies in rock formations under the seabed.
The report on the United States oil & gas upstream market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
United States Oil & Upstream Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Location Deployments (Onshore and Offshore) |
Geographical Zone |
The US |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Exxon Mobil Corporation, B.P. plc, Chevron Corporation, and Royal Dutch Shell Plc. |
On the basis of location deployments, the market is bifurcated into onshore and offshore. The onshore segment is expected to constitute a key share of the market during the forecast period owing to rising activities in onshore fields. Conversely, the advancements in the offshore segment is expected to create significant opportunities for emerging players in the market.
The United States oil & gas upstream market has been segmented on the basis of
Key players competing in the United States oil & gas upstream market include Exxon Mobil Corporation, B.P. plc, Chevron Corporation, and Royal Dutch Shell Plc.
The United States oil & gas upstream market has been segmented on the basis of
Key players competing in the United States oil & gas upstream market include Exxon Mobil Corporation, B.P. plc, Chevron Corporation, and Royal Dutch Shell Plc.
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