NAICS Code 423830-59 - Oil Well Fishing Tools (Wholesale)

Marketing Level - NAICS 8-Digit

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NAICS CODE 423830-59
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NAICS Code 423830-59 Description (8-Digit)

Oil Well Fishing Tools (Wholesale) is a subdivision of the Industrial Machinery and Equipment Merchant Wholesalers industry. This industry involves the wholesale distribution of specialized tools and equipment used in the oil and gas industry for fishing operations. Fishing operations refer to the process of retrieving lost or stuck equipment from oil and gas wells. The tools and equipment distributed by this industry are designed to be used in harsh and challenging environments, such as deep-sea drilling rigs and offshore oil platforms.

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 423830 page

Tools

Tools commonly used in the Oil Well Fishing Tools (Wholesale) industry for day-to-day tasks and operations.

  • Fishing Spears
  • Junk Catchers
  • Milling Tools
  • Overshots
  • Releasing and Circulating Overshots
  • Taper Taps
  • Washover Shoes
  • Wireline Cutters
  • Wireline Grabbing Tools
  • Wireline Spears

Industry Examples of Oil Well Fishing Tools (Wholesale)

Common products and services typical of NAICS Code 423830-59, illustrating the main business activities and contributions to the market.

  • Oil and Gas Drilling Companies
  • Oil and Gas Exploration Companies
  • Oil and Gas Well Servicing Companies
  • Oil and Gas Extraction Companies
  • Oil and Gas Field Services Companies

History

A concise historical narrative of NAICS Code 423830-59 covering global milestones and recent developments within the United States.

  • The "Oil Well Fishing Tools (Wholesale)" industry has a long history dating back to the early 20th century when the first oil wells were drilled in the United States. The industry has since grown and evolved with the development of new technologies and techniques for drilling and extracting oil. Notable advancements in the industry include the introduction of electric wireline tools in the 1920s, which allowed for more precise measurements of well conditions, and the development of hydraulic fishing tools in the 1950s, which made it easier to retrieve lost equipment from wells. In recent years, the industry has faced challenges due to fluctuations in oil prices and increased competition from alternative energy sources. However, advancements in technology and a growing demand for oil and gas continue to drive growth in the industry. In the United States, the "Oil Well Fishing Tools (Wholesale)" industry has a more recent history, with significant growth occurring in the mid-20th century. This growth was driven by the increasing demand for oil and gas and the development of new drilling techniques, such as hydraulic fracturing. In the 1970s, the industry faced a downturn due to the oil crisis, but it rebounded in the 1980s with the introduction of new technologies, such as horizontal drilling. Since then, the industry has continued to grow, with advancements in technology and a growing demand for oil and gas driving innovation and expansion.