Oil & Gas Field Equipment Industry Overview

Companies that manufacture oil field equipment, drilling bits, drilling fluids, drill rigs, lifts, geophysical prospecting equipment, pipes, pumps, production tools, valves, and wellheads.

Full Oil & Gas Field Equipment Industry Description

Price Volatility

Increased demand in recent years has allowed companies to raise prices and limit discounting. Prices for drilling products and services rose 70 percent from 2003 to 2005, and for other oil and gas field services rose 22 percent. Higher prices increase profitability and allow companies to invest in new equipment and hiring.

Full Oil & Gas Field Equipment Industry Trends

• Compressco, Inc.
• Compressor Systems, Inc.
• Eaton Oil Tools, Inc.

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Hoover's has developed its own industry classifications to better serve its customers. These classifications are mapped to the North American Industry Classification System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system. The Oil & Gas Field Equipment maps to a number of NAICS codes including:

Full Oil & Gas Field Equipment Industry Codes

• American Association of Petroleum Geologists
  
• American Petroleum Institute
  
• Energy Information Administration
  

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