Major Group SIC 1381 - Drilling Oil And Gas Wells

SIC 1381 - Drilling Oil And Gas Wells

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
- SIC 138 - Oil And Gas Field Services
  SIC 131 - Crude Petroleum And Natural Gas SIC 138 - Oil And Gas Field Services SIC 132 - Natural Gas Liquids
  - SIC 1381 - Drilling Oil And Gas Wells
    SIC 1381 - Drilling Oil And Gas Wells SIC 1382 - Oil And Gas Field Exploration Services SIC 1389 - Oil And Gas Field Services, Not Elsewhere Classified

Establishments primarily engaged in drilling wells for oil or gas field operations for others on a contract or fee basis. This industry includes contractors that specialize in spudding in, drilling in, redrilling, and directional drilling.

Industry trends:

The NAICS 1381 industry, Drilling Oil and Gas Wells, is experiencing several key qualitative trends. A significant shift toward digital transformation is prevalent, with companies increasingly adopting advanced technologies such as automation, artificial intelligence, and predictive analytics to optimize drilling operations. This trend is driven by the need to enhance operational efficiency, reduce costs, and improve safety standards.

Environmental sustainability and regulatory pressures are also influencing the industry. There is a growing emphasis on reducing the environmental impact of drilling activities. Companies are investing in technologies and practices that minimize emissions, manage water usage, and promote the responsible disposal of waste materials.

Additionally, geopolitical factors and market dynamics are shaping the industry landscape. Fluctuations in oil prices, driven by global supply-demand imbalances and geopolitical tensions, continue to impact investment decisions and project timelines. However, there is a cautious optimism for stable growth in the near future, supported by recovering demand post-pandemic and strategic production adjustments by major oil-producing countries.

Looking forward, the industry is expected to witness further integration of renewable energy solutions, with some companies exploring hybrid models that combine traditional drilling with renewable energy projects. This diversification is seen as a strategy to hedge against market volatility and align with broader energy transition goals.

This industry is comprised of:

Directional drilling of oil and gas wells on a contract basis

Redrilling oil and gas wells on a contract basis

Reworking oil and gas wells on a contract basis

Spudding in oil and gas wells on a contract basis

Well drilling gas, oil, and water intake: on a contract basis

Explore related industries:

SIC 1241 - Coal Mining Services SIC 1781 - Water Well Drilling SIC 3533 - Oil And Gas Field Machinery And Equipment

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