NAICS Code 213112-03 - Oil & Gas Exploration & Development

Marketing Level - NAICS 8-Digit

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NAICS Code 213112-03 Description (8-Digit)

Oil & Gas Exploration & Development is a subdivision of the NAICS Code 213112, which falls under the category of Support Activities for Oil and Gas Operations. This industry involves the exploration, drilling, and development of oil and gas reserves in various locations around the world. The primary objective of this industry is to locate and extract oil and gas from the earth's crust, which can then be refined and used as fuel for various purposes. Oil & Gas Exploration & Development is a complex and challenging industry that requires a range of specialized tools and equipment to carry out its operations. The industry is highly competitive, and companies must constantly innovate and improve their techniques to remain profitable. The industry is also subject to various environmental and regulatory challenges, which can impact the profitability of companies operating in this space.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 213112 page

Tools

Tools commonly used in the Oil & Gas Exploration & Development industry for day-to-day tasks and operations.

  • Seismic imaging equipment
  • Drilling rigs
  • Mud pumps
  • Drill bits
  • Casing and tubing
  • Blowout preventers
  • Wellhead equipment
  • Production tubing
  • Artificial lift systems
  • Hydraulic fracturing equipment
  • Coiled tubing units
  • Wireline units
  • Cementing equipment
  • Logging tools
  • Directional drilling tools
  • Measurement while drilling (MWD) tools
  • Logging while drilling (LWD) tools
  • Perforating guns
  • Completion tools
  • Well testing equipment

Industry Examples of Oil & Gas Exploration & Development

Common products and services typical of NAICS Code 213112-03, illustrating the main business activities and contributions to the market.

  • Offshore drilling
  • Onshore drilling
  • Hydraulic fracturing
  • Oil sands extraction
  • Shale gas extraction
  • Coal bed methane extraction
  • Oil and gas exploration
  • Oil and gas development
  • Oil and gas production
  • Oil and gas transportation

History

A concise historical narrative of NAICS Code 213112-03 covering global milestones and recent developments within the United States.

  • The "Oil & Gas Exploration & Development" industry has a long and rich history worldwide. The first oil well was drilled in Pennsylvania, USA, in 1859, which marked the beginning of the modern oil industry. In the early 20th century, the industry experienced significant growth due to the increasing demand for oil and gas. The industry also played a crucial role in both World Wars, providing fuel for military vehicles and aircraft. In the 1970s, the industry faced a crisis due to the oil embargo imposed by the Organization of the Petroleum Exporting Countries (OPEC), which led to a significant increase in oil prices. In recent years, the industry has faced challenges due to the increasing focus on renewable energy sources and the declining demand for fossil fuels. In the United States, the "Oil & Gas Exploration & Development" industry has a rich history as well. The first commercial oil well was drilled in Titusville, Pennsylvania, in 1859, which marked the beginning of the modern oil industry in the US. The industry experienced significant growth in the early 20th century, with the discovery of large oil fields in Texas, Oklahoma, and California. The industry played a crucial role in the US economy during World War II, providing fuel for military vehicles and aircraft. In recent years, the industry has faced challenges due to the increasing focus on renewable energy sources and the declining demand for fossil fuels.