Crude Petroleum Extraction Revenue Benchmarks
The average crude petroleum extraction business in the United States generates $17.5M in annual revenue, according to the U.S. Census Bureau Statistics of U.S. Businesses (SUSB 2021). There are 3,538 crude petroleum extraction businesses in the U.S., employing 59,985 workers with an average profit margin of 15.0%. The average employee in this industry earns $222K per year (Bureau of Labor Statistics QCEW 2023).
What Does a Crude Petroleum Extraction Business Actually Do?
Crude Petroleum Extraction: Businesses that extract minerals, oil, natural gas, or aggregate from the earth.
Who buys: Refineries, manufacturers, utilities, construction contractors.
Sector-level description — a more specific write-up is available for high-traffic industries.
Average Revenue
$17.5M
per year
Profit Margin
15.0%
industry average
Revenue / Employee
$1.0M
per year
Total Businesses
3,538
in the US
Est. Owner Income
$2.6M
small business avg
Labor Cost
15.0%
of revenue
Avg Employee Wage
$222K
per year (BLS)
Market Saturation
1.1
firms per 100K people
How Much Do Crude Petroleum Extraction Charge?
Crude Petroleum Extraction: Extractive industries sell at commodity spot prices set by global markets. The specifics vary within the crude petroleum extraction category — the ranges below are typical for the sector.
| Service | Typical range |
|---|---|
Crude oil (per bbl) | commodity market ($60–90 typical) |
Natural gas (per MMBtu) | commodity market ($2–6 typical) |
Aggregate/stone (per ton) | $8–25/ton delivered |
Sector-typical ranges — individual services within this industry may fall higher or lower.
Complete crude petroleum extraction business plan
A 12-section data-backed business plan for a crude petroleum extraction business — executive summary, market analysis, competitive landscape, revenue model, 3-year financial projections, operations, marketing, staffing, funding request. Pre-populated with real Census, IRS, and BLS data on this industry. Free to view.
Cost Structure — Where Every $100 in Revenue Goes
Approximate P&L breakdown for the crude petroleum extraction industry. Labor share and net profit are grounded in Census SUSB and IRS SOI data. Other lines are split using sector-typical ratios.
| Category | Per $100 revenue | Per typical business | What's in it |
|---|---|---|---|
Extraction costs | $32 | $5.5M | Explosives, drilling fluids, chemicals, mining supplies. |
Wages & benefits | $15 | $2.6M | Payroll for all employees at the business (owner comp not included for small owner-operators). |
Rent & facilities | $7 | $1.2M | Rent or mortgage on business location plus utilities tied to the space. |
Marketing & advertising | $2 | $368K | Google/Meta ads, SEO, print, referral fees, event sponsorships. |
Other operating costs | $29 | $5.1M | Depreciation on huge equipment, environmental compliance, insurance. |
Net profit | $15 | $2.6M | What remains for the owner or shareholders after all business expenses. |
Directionally accurate for a typical business in the industry. Individual businesses vary widely — a franchise may run a very different cost mix from an independent, and older established businesses often have lower labor share than newer ones.
Average Revenue by Business Size
Industry Dynamics (Census BDS 2023)
New Business Rate
8.94%
openings/year
Closure Rate
8.68%
closings/year
Net Job Growth
+4.81%
annual
Businesses Closed
275
in 2023
Firm Count Trend
Should You Start a Crude Petroleum Extraction Business?
Startup Cost
$50K – $250K
Break-Even
1 months
5-Year Survival Rate
50.0%
Related Industries
Frequently Asked Questions
- What does a crude petroleum extraction business do?
- Crude Petroleum Extraction: Businesses that extract minerals, oil, natural gas, or aggregate from the earth. Refineries, manufacturers, utilities, construction contractors.
- How much do crude petroleum extraction charge?
- Crude Petroleum Extraction: Extractive industries sell at commodity spot prices set by global markets. The specifics vary within the crude petroleum extraction category — the ranges below are typical for the sector. See the pricing table above for typical rates by service type.
- How much does the average crude petroleum extraction make per year?
- The average crude petroleum extraction business generates $17.5M in annual revenue, based on U.S. Census Bureau data (SUSB 2021). After expenses, the estimated owner profit is $2.6M per year at a 15.0% profit margin.
- How many crude petroleum extraction businesses are there in the US?
- There are 3,538 crude petroleum extraction businesses operating in the United States, employing a total of 59,985 workers.
- How much does it cost to start a crude petroleum extraction business?
- Startup costs for a crude petroleum extraction business typically range from $50K to $250K, with a 5-year survival rate of 50.0%.
- What is the average salary in the crude petroleum extraction industry?
- The average employee in the crude petroleum extraction industry earns $222K per year, according to Bureau of Labor Statistics data (QCEW 2023).
Industry Growth & Survival
The crude petroleum extraction industry is actively growing — adding jobs at a net rate of 4.8% per year. New establishments are opening faster than existing ones close (8.9% entry vs 8.7% exit), indicating healthy demand.
Approximately 64% of crude petroleum extraction businesses survive their first 5 years. This is above the national average (~50%), making it a relatively safe industry to enter. In 2023, 275 firms in this industry closed permanently.
Employment & Wages
The average employee in the crude petroleum extraction industry earns $221,671/year. This is significantly above the national average of ~$65K, reflecting the skilled nature of this work. With 4,431 establishments employing 83,522 people, the typical business has about 19 employees.
Industry Trend (2000–2023)
The crude petroleum extraction industry has declined 34% since 2000 (from 5,620 to 3,695 firms).
See full historical statistics →Compare Crude Petroleum Extraction revenue with other industries: