Aminex - Competitors

Aminex Competition

Now Viewing Aminex's competition in: Oil and Gas Exploration and Production

Recent Developments

Less Investment in North America, More Abroad - Worldwide investment in oil and gas exploration didn't change in 2007 compared to 2006, according to a report by two leading industry consulting and research firms. In general, higher investment in Russia and Asia, particularly China, masked lower investment numbers in North America. Elsewhere in the industry, overall production increased 1.3 percent in 2007 compared to 2006. And revenues increased 10 percent, although companies were forced to absorb higher costs.

Gas Gets Bigger - US leaders emphasize the need to use less oil and more renewable energy, which has them pushing for natural gas as a way to meet demand until renewable technologies take over. As part of this push, natural gas trapped in shale, a type of rock formation, is garnering renewed interest. Recent technology allows increased gas production from shale; oil and gas exploration and production companies are working hard to secure rights to drill in US shale deposit areas.

Hurricanes Test Strength of Platforms - Only about 1 percent of daily US oil production in the Gulf of Mexico was disrupted due to hurricanes Ike and Gustav. Damage from the storms was limited primarily to small, independent producer platforms, and in total destroyed 28. Some experts estimate the financial damage to the industry exceeds $2 billion.

Competitive Landscape

Demand is driven by economic activity, population growth, and energy efficiency for residential, industrial, and transportational uses of oil and gas. Profitability of individual companies is driven by the success rate of new wells drilled and the ability to increase production from existing wells. Large companies are advantaged by access to capital, including the ability to buy or merge smaller companies. Small companies compete by focusing on, and developing expertise in, a few geographic areas. The industry is capital intensive: average annual revenue per employee is about $5 million.

Full Industry Overview For Oil and Gas Exploration and Production

Oil and Gas Exploration and Production Industry Forecast

from Hoover's/D&B subsidiary First Research

The output of US natural gas extraction and crude petroleum production is forecast to grow at an annual compounded rate of -3.2 percent between 2008 and 2013.

Oil & Gas Production Growth Volatile

First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.