Major Group SIC 13 - Oil And Gas Extraction

SIC 13 - Oil And Gas Extraction

SIC 13 - Oil And Gas Extraction
SIC 01 - Agricultural Production Crops SIC 02 - Agricultural Production Livestock And Animal Specialties SIC 07 - Agricultural Services SIC 08 - Forestry SIC 09 - Fishing, Hunting, And Trapping SIC 10 - Metal Mining SIC 12 - Coal Mining SIC 13 - Oil And Gas Extraction SIC 14 - Mining And Quarrying Of Nonmetallic Minerals, Except Fuels SIC 15 - Building Construction General Contractors And Operative Builders SIC 16 - Heavy Construction Other Than Building Construction Contractors SIC 17 - Construction Special Trade Contractors SIC 20 - Food And Kindred Products SIC 21 - Tobacco Products SIC 22 - Textile Mill Products SIC 23 - Apparel And Other Finished Products Made From Fabrics And Similar Materials SIC 24 - Lumber And Wood Products, Except Furniture SIC 25 - Furniture And Fixtures SIC 26 - Paper And Allied Products SIC 27 - Printing, Publishing, And Allied Industries SIC 28 - Chemicals And Allied Products SIC 29 - Petroleum Refining And Related Industries SIC 30 - Rubber And Miscellaneous Plastics Products SIC 31 - Leather And Leather Products SIC 32 - Stone, Clay, Glass, And Concrete Products SIC 33 - Primary Metal Industries SIC 34 - Fabricated Metal Products, Except Machinery And Transportation Equipment SIC 35 - Industrial And Commercial Machinery And Computer Equipment SIC 36 - Electronic And Other Electrical Equipment And Components, Except Computer Equipment SIC 37 - Transportation Equipment SIC 38 - Measuring, Analyzing, And Controlling Instruments Photographic, Medical And Optical Good SIC 39 - Miscellaneous Manufacturing Industries SIC 40 - Railroad Transportation SIC 41 - Local And Suburban Transit And Interurban Highway Passenger Transportation SIC 42 - Motor Freight Transportation And Warehousing SIC 44 - Water Transportation SIC 45 - Transportation By Air SIC 46 - Pipelines, Except Natural Gas SIC 47 - Transportation Services SIC 48 - Communications SIC 49 - Electric, Gas, And Sanitary Services SIC 50 - Wholesale Trade-durable Goods SIC 51 - Wholesale Trade-non-durable Goods SIC 52 - Building Materials, Hardware, Garden Supply, And Mobile Home Dealers SIC 53 - General Merchandise Stores SIC 54 - Food Stores SIC 55 - Automotive Dealers And Gasoline Service Stations SIC 56 - Apparel And Accessory Stores SIC 57 - Home Furniture, Furnishings, And Equipment Stores SIC 58 - Eating And Drinking Places SIC 59 - Miscellaneous Retail SIC 60 - Depository Institutions SIC 61 - Non-depository Credit Institutions SIC 62 - Security And Commodity Brokers, Dealers, Exchanges, And Services SIC 63 - Insurance Carriers SIC 64 - Insurance Agents, Brokers, And Service SIC 65 - Real Estate SIC 67 - Holding And Other Investment Offices SIC 70 - Hotels, Rooming Houses, Camps, And Other Lodging Places SIC 72 - Personal Services SIC 73 - Business Services SIC 75 - Automotive Repair, Services, And Parking SIC 76 - Miscellaneous Repair Services SIC 78 - Motion Pictures SIC 79 - Amusement And Recreation Services SIC 80 - Health Services SIC 81 - Legal Services SIC 82 - Educational Services SIC 83 - Social Services SIC 84 - Museums, Art Galleries, And Botanical And Zoological Gardens SIC 86 - Membership Organizations or Unions And Similar Labor Organizations SIC 87 - Engineering, Accounting, Research, Management, And Related Services SIC 89 - Services, Not Elsewhere Classified SIC 96 - Administration Of Economic Programs

This major group includes establishments primarily engaged in: (1) producing crude petroleum and natural gas; (21 extracting oil from oil sands and oil shale; (3) producing natural gasoline and cycle condensate; and (4) producing gas and hydrocarbon liquids from coal at the mine site. Types of activities included are exploration, drilling, oil and gas well operation and maintenance, the operation of natural gasoline and cycle plants, and the gasification, liquefaction, and pyrolysis of coal at the mine site. This major group also includes such basic activities as emulsion breaking and desilting of crude petroleum in the preparation of oil and gas customarily done at the field site. Pipeline transportation of petroleum, gasoline, and other petroleum products (except crude petroleum field gathering lines) is classified in Transportation and Public Utilities, Major Group 46, and of natural gas in Major Group 49. Establishments primarily engaged in petroleum refining and in the production of lubricating oils and greases are classified in Manufacturing, Major Group 29.

Industry trends:

The oil and gas extraction industry (NAICS 13) is experiencing significant qualitative trends driven by evolving market dynamics, technological advancements, and regulatory changes. One prominent trend is the increasing emphasis on sustainability and environmental responsibility. Companies are investing heavily in cleaner extraction technologies and carbon capture initiatives due to growing pressure from stakeholders and regulatory bodies to reduce their carbon footprint.

Digital transformation is another key trend. The adoption of advanced data analytics, IoT, and AI is optimizing operations, enhancing safety, and reducing costs. These technologies enable predictive maintenance, better resource management, and improved decision-making processes.

The geopolitical landscape continues to impact the industry, with fluctuating oil prices and shifting alliances influencing supply chains. Moreover, the transition towards renewable energy sources is exerting pressure on traditional oil and gas operations, prompting many companies to diversify their portfolios to include alternative energy investments.

Looking ahead, forecasts suggest that while the demand for oil and gas will continue, it will grow at a slower pace. Investment in renewable energy and decarbonization will likely accelerate, driven by policy initiatives and market demand for sustainable energy solutions. Companies that adapt to these changes and innovate in operational efficiencies will be better positioned to thrive in this evolving landscape.

This industry is comprised of:

SIC 131 - Crude Petroleum And Natural Gas

SIC 132 - Natural Gas Liquids

SIC 138 - Oil And Gas Field Services

Explore related industries:

SIC 12 - Coal Mining SIC 29 - Petroleum Refining And Related Industries SIC 46 - Pipelines, Except Natural Gas

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