A 2013 Independent Petroleum Drillers Association of America (IPAA) survey summarizes their onshore members as having the following traits:
Develop 65 percent natural gas and 45% of oil production in the US.
Average firm has fewer than 15 employees.
Average gross revenue is less than $10 million.
Another interesting facet to the report was funding sources:
While private debt and equity make up the majority – the price collaspe has likely seen these figures come down.
Our view, however, is independent drillers need investment, now more than ever, in order to deliver reliable and competitive wells. If you are an investor who wants to enter this market, it is by no means too late and there are several projects available that meet your funding criteria.
Click here for the full report on the impact of independent US drillers.