The offshore drilling market accounts for a huge amount of the world’s wealth. The opening of the U.S. Atlantic, Pacific, and the Gulf of Mexico for offshore oil exploration will have significant effects on the United States. This development is expected to generate an additional $70 billion per year for the U.S. economy and create an estimated 840,000 new jobs. At the moment, the federal government controls these three regions, and 87% of the acreage is off limits for offshore oil and gas development. That means these top 10 oil-drilling companies are not making nearly as much as their potential if these regions are opened. Still, the revenue they do make is quite hefty. Here are some recent figures:
- Schlumberger. The biggest offshore drilling company, not just in the U.S. but in the world, beat its own revenue record last year. Its revenue increased 7% from 2013, totaling a whopping $48.6 billion dollars last year. Schlumberger’s headquarters are in Houston, TX.
- Halliburton. Coming in second is Halliburton, based out of Houston, TX and Dubai, India. It is one of the world’s largest oil drilling companies, representing more than 140 nationalities and 80 countries. Its revenue grew 12% from 2013, totaling $32.9 billion last year.
- Baker Hughes. Also based in Houston, TX, Baker Hughes had substantial revenue growth last year also. Up from 10% in 2013, the oilfield services company made $24.6 billion last year. The company is known for its innovative and technologically advanced approach to complex drilling situations.
- Flour. This Irving, TX company lost revenue last year, but it still made a decent amount. Down from $27.4 billion in 2013, Flour made $21.5 billion in revenue in 2014.
- Diamond. Diamond Offshore Drilling, Inc. is based out of Houston, TX with offices in Australia, Brazil, Mexico, Scotland, Singapore, and Norway. Diamond has a total of 45 drilling rigs, seven of which are under construction. In 2014, it made a total of $2.8 billion in revenue.
- Rowan. Rowan, like most corporations on this list, is based out of Houston, TX. It is known for its ultra-deepwater drill ships based along the Gulf Coast, Southeast Asia, and the Mediterranean Sea. Rowan has one of the youngest fleets in the industry, which includes four ultra-deepwater ships and 30 jack-up rigs. Its revenue dropped a bit in 2014, totaling $1.82 billion.
- Atwood Oceanics. This Houston, TX offshore drilling company is a small corporation with 13 mobile offshore drilling units. It has one ultra-deep drill ship stationed in the Gulf of Mexico and two more under construction. The rest of its fleet is stationed across the globe. Its revenue grew by $110 million, totaling $1.17 billion in 2014.
- GlobalSantaFe. GlobalSantaFe had its executive offices in Houston, TX, and in 2007 merged with the Swiss drilling giant Transocean. At the time, GlobalSantaFe was one of the largest offshore drilling companies and the merger was valued at $17 billon. What is now part of Transocean made $9.17 billion in 2014.
- Smith International. Smith International was based out of the Greenspoint district in Harris County, Texas. In 2010, it was acquired by Schlumberger for $11.3 billion. Schlumberger is now the biggest offshore oil driller in the world, totaling $48.6 billion in revenue last year.
- Parker. Parker Drilling Company is based out of Houston, TX. It provides drilling services to the U.S. Latin America, Africa, the Middle East, Asia, and Europe. It drills both deepwater wells for oil and shallow water wells for gas along the coast of Texas, Louisiana, and Alabama. Its revenue for the year of 2014 totaled $243.2 million.