The Petroleum Exploration industry provides onshore and offshore drilling and exploration services. The downstream Oil and Gas Extraction industry uses these services to establish a portfolio of future projects. Exploration-only companies identify reserves that are attractive to larger players. With considerable year-on-year volatility, industry revenue is forecast to decline at a compound annual rate of 8.0% over the five years through 2014-15, to $2.53 billion. The volatility in industry revenue reflects the role that commodity prices and sentiment have in funding for exploration, which is inherently risky and capital-intensive.
Firms in this industry explore for crude petroleum and natural gas.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.