The oil and gas service industry provides an array of services and products to support the exploration, extraction, and transportation of oil and gas to support 74% of U.S. energy needs. Petroleum-based products like gasoline, fabrics, tires, sports balls, plastics, and more are present in every American's daily life.
The oil and gas industry often finds itself under intense scrutiny by climate change activists as the renewable energy surge continues to drive a significant portion of investment dollars away. Despite this, oil and gas companies have continuously grit it out in their commitment to fuel the world. Windmills and solar panels that continue to spread in rural America simply cannot meet the energy demand of the growing population. Meanwhile, oil and gas service companies continue to innovate both technologies and processes to improve resource availability, decrease operational costs, and lower the carbon footprint of their operations.
In this review, we recognize six companies who are doing just that and are positioned for a successful 2025. Also included are market projections for offshore and onshore operations and political developments that could affect the oil and gas industry in the near future.
