NAICS Code 541360-05 - Exploration-Drilling Contractors

Marketing Level - NAICS 8-Digit

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NAICS CODE 541360-05
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NAICS Code 541360-05 Description (8-Digit)

Exploration-Drilling Contractors is a subdivision of the Geophysical Surveying and Mapping Services industry that involves companies specializing in drilling and exploration services for natural resources such as oil, gas, and minerals. These contractors are responsible for drilling wells and conducting exploratory tests to determine the location, quantity, and quality of natural resources in a given area. They work in various locations, including land and offshore sites, and are often hired by mining and energy companies.

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 541360 page

Tools

Tools commonly used in the Exploration-Drilling Contractors industry for day-to-day tasks and operations.

  • Drill bits
  • Mud pumps
  • Casing
  • Drill collars
  • Rotary tables
  • Blowout preventers
  • Top drives
  • Downhole tools
  • Logging equipment
  • Cementing equipment
  • Directional drilling tools
  • MWD/LWD tools
  • Drill pipe
  • Fishing tools
  • Wellhead equipment
  • Hydraulic fracturing equipment
  • Coiled tubing units
  • Wireline units
  • Pressure control equipment

Industry Examples of Exploration-Drilling Contractors

Common products and services typical of NAICS Code 541360-05, illustrating the main business activities and contributions to the market.

  • Oil drilling
  • Gas exploration
  • Mineral exploration
  • Geothermal drilling
  • Offshore drilling
  • Coalbed methane drilling
  • Shale gas drilling
  • Tar sands exploration
  • Underground storage exploration
  • Enhanced oil recovery drilling

History

A concise historical narrative of NAICS Code 541360-05 covering global milestones and recent developments within the United States.

  • The Exploration-Drilling Contractors industry has a long history dating back to the early 1800s when the first oil well was drilled in Pennsylvania. Since then, the industry has undergone significant changes, with the introduction of new technologies and techniques. In the mid-20th century, the industry experienced a boom due to the discovery of large oil reserves in the Middle East. This led to the development of new drilling techniques, such as directional drilling and hydraulic fracturing. In recent years, the industry has faced challenges due to the decline in oil prices, which has led to a decrease in exploration and drilling activities. However, the industry has adapted by focusing on cost-cutting measures and improving efficiency. In the United States, the Exploration-Drilling Contractors industry has a rich history, with the first commercial oil well drilled in 1859 in Pennsylvania. The industry experienced significant growth in the early 20th century due to the discovery of large oil reserves in Texas. The industry continued to grow throughout the 20th century, with the development of new technologies and techniques. In recent years, the industry has faced challenges due to the decline in oil prices, which has led to a decrease in exploration and drilling activities. However, the industry has adapted by focusing on cost-cutting measures and improving efficiency.