NAICS Code 533110-05 - Royalties-Oil & Mineral

Marketing Level - NAICS 8-Digit

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  • Business Phone Number
  • Industry Codes (Primary and Secondary SIC & NAICS Codes)
  • Sales Volume
  • Employee Count
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Looking for more companies? See NAICS 533110 - Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) - 602 companies, 4,407 emails.

NAICS Code 533110-05 Description (8-Digit)

The Royalties-Oil & Mineral industry involves the leasing of nonfinancial intangible assets related to oil and mineral rights. Companies in this industry own the rights to extract and sell oil and minerals from a particular area and lease these rights to other companies for a fee. This industry is a crucial part of the energy and mining sectors, as it allows companies to access valuable resources without having to purchase the land outright.

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 533110 page

Tools

Tools commonly used in the Royalties-Oil & Mineral industry for day-to-day tasks and operations.

  • Geophysical survey equipment
  • Drilling rigs
  • Core sampling equipment
  • Mud logging equipment
  • Well logging equipment
  • Seismic data processing software
  • Reservoir simulation software
  • Production optimization software
  • Pipeline inspection equipment
  • Oil and gas measurement equipment

Industry Examples of Royalties-Oil & Mineral

Common products and services typical of NAICS Code 533110-05, illustrating the main business activities and contributions to the market.

  • Oil and gas exploration companies
  • Mining companies
  • Energy companies
  • Land leasing companies
  • Mineral rights owners
  • Oil and gas production companies
  • Pipeline transportation companies
  • Oilfield service companies
  • Geophysical surveying companies
  • Drilling contractors

History

A concise historical narrative of NAICS Code 533110-05 covering global milestones and recent developments within the United States.

  • The Royalties-Oil & Mineral industry has a long and rich history worldwide. The concept of royalties dates back to the 15th century when the Spanish Crown granted rights to explore and extract minerals in the New World in exchange for a share of the profits. In the United States, the industry began to take shape in the late 19th century when oil and gas royalties became a common practice. The industry experienced significant growth in the mid-20th century with the discovery of large oil and gas reserves in the Middle East and the development of new technologies for exploration and extraction. In recent years, the industry has faced challenges due to the decline in oil prices and the increasing demand for renewable energy sources. In the United States, the Royalties-Oil & Mineral industry has a more recent history. The industry began to take shape in the early 20th century with the discovery of large oil reserves in Texas and Oklahoma. The industry experienced significant growth in the mid-20th century with the development of new technologies for exploration and extraction, such as hydraulic fracturing. In recent years, the industry has faced challenges due to the decline in oil prices and the increasing demand for renewable energy sources. Despite these challenges, the industry remains an important part of the US economy, providing jobs and revenue for many communities.