Revenue of top land drilling energy services and equipment companies 2015-2020

With headquarters in Houston, Texas, Nabors Industries Ltd. is projected to generate the highest revenue in its sector at 3.69 billion U.S. dollars in 2020. The company operates the most land drilling rigs in the world, and is expected to remain in close competition with another Houston-based company, Patterson-UTI Energy Inc.

Unstable oil markets

Over the last few years, Helmerich & Payne, Inc. of Tulsa, Oklahoma has also been a major competitor, generating nearly double the revenue of Patterson-UTI in 2015 before the market severely oscillated during the 2010s oil glut. Prices were hit across the industry as a result of surplus supply, and revenue plummeted by 2016. Overproduction of shale oil in the United States strongly impacted the industry as new methods of extraction, such as hydraulic fracturing, came into more frequent use.

Aftermath of oil glut

Before the crash, Helmerich & Payne’s revenue was over a third higher than that of Patterson UTI. However, in recent years, the company has struggled to regain its former rates while Patterson UTI has been exceeding them. Meanwhile, Nabors Industries has not recovered as large a lead as it once held in the industry, with revenue still below that of 2015.

Revenue of land drilling companies within the global energy equipment and services sector from 2015 to 2020

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Source

Release date

March 2019

Region

Worldwide

Survey time period

2015 to 2018

Supplementary notes

* Estimated.
** Projected.
This statistic was assembled using several editions of the report.

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