The Independent Petroleum Association of America is pleased to present our Economic Reports – a diverse and complete picture of the industry continually updated throughout the year. This collection of indispensable publications will allow you to make the necessary decisions about today’s competitive oil and natural gas industry.
Our Economic Reports save you money. There will be no need to subscribe to many different publications and databases. You can get all the latest industry data from one subscription to our Economic Reports. We have the time, resources, and expertise to compile and interpret the pertinent data for you.
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:
IPAA is pleased to release the latest data on American oil and natural gas production in a new edition of the popular “Oil and Gas Producing Industry in Your State.”
The latest report, a result of continued collaboration between IPAA and IHS, includes top producing county data and production rankings for oil and natural gas by congressional district, in addition to ten-year charts on key trends. The report also includes numbers on unconventional oil and natural gas production, permit and operator data, horizontal drilling figures and marginal production by state and features an extended industry and educational resource section at the beginning of the publication.
IPAA’s “Oil and Gas Producing Industry in Your State” remains the definitive source of upstream state- by-state data. If you would like to receive a hard copy of the report, please contact Fred Lawrence.
Employment in the exploration and production sector of the United States 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.
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.