The basic definition of Independents is a non-integrated company which receives nearly all of its revenues from production at the wellhead. They are exclusively in the exploration and production segment of the industry, with no marketing or refining within their operations. The tax definition published by the IRS, states that a firm is an Independent if its refining capacity is less than 75,000 barrels per day in any given day or their retail sales are less than $5 million for the year. Over the last decade, the number of independents (broad definition) has decreased from over 10,000 to approximately 7,000. For a more complete description of Independents, see:
- 2008 Profile of Independent Producers (pdf) 3.28 kB
- 2000 Profile of Independent Producers (pdf) 4.08 MB
- 1998 Profile of Independent Producers
- 1996 Profile of Independent Producers
2011-2012 IPAA Oil & Gas Producing Industry in Your State
- 2011-2012 Oil & Gas Producing Industry in Your State (pdf) 53.14 MB
How many people work in the industry?
Employment in the exploration and production sector of the oil and natural gas industry in 2011 averaged 516,300, compared to 450,400 in 2010. For 2012, the numbers have continued to increase. Sixteen years ago, 248,300 people earned their living in this sector. Including refining, transportation, wholesale and retail segments, the number employed is 1.9 million for 2011. This figure does not include the millions of indirect and induced jobs related to the E&P sector.
How much oil and natural gas is produced in the United States?
Crude oil production in 2012 averaged 6.3 million barrels per day (MMb/d), compared to 5.6 MM b/d in 2011 and 5.5 MM b/d in 2010. Crude oil production in the lower 48 states averaged 5.7 MM b/d, while Alaskan production averaged 520,000 b/d. Total dry natural gas production in 2012 was estimated at 23 trillion cubic feet (Tcf), compared to 21.3 Tcf in 2010 and 20.6 Tcf in 2009.
IHS Final Report (pdf) 904.02 kB
