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NAICS 211120, industry

NAICS 211120: Crude petroleum extraction

NAICS 211120 is the industry code for crude petroleum extraction. Use it on loan applications, tax forms and registrations. Explore financing for energy services and start your application when you are ready.

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What 211120 covers

Businesses classified here explore for, develop and produce crude oil, including oil sands and shale. Operators and working interest owners both belong here.

Included in this code

  • Crude oil production
  • Oil well operation
  • Oil sands and oil shale extraction
  • Working interest ownership in oil leases

Not this code

Businesses that use 211120

Permian Basin independent operatorStripper well operatorNon operated working interest owner

Financing for this trade

Oil and gas producers use reserve based lending lines secured by proved reserves, equipment loans and working capital lines, while smaller operators lean on SBA 7(a) and asset based loans. Lenders look at reserve reports, decline curves, hedging and operator experience.

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Is 211120 the right code for an oil producer?

Yes, if your business produces crude oil from wells you operate or own a working interest in. The code for natural gas extraction is 211130. Pick the code that matches the activity earning most of your revenue, and use that same code on your tax return, loan applications and SBA forms so lenders see one consistent picture.

What is the SBA size standard for 211120?

The SBA size standard for 211120 is 1,250 employees. A business at or under that headcount, counting affiliates, is small for SBA loans such as 7(a) and 504 and for federal contracting set asides. Employees are averaged across all pay periods over the past 24 months, including part time and temporary staff.

What financing do oil producers use?

Oil and gas producers use reserve based lending lines secured by proved reserves, equipment loans and working capital lines, while smaller operators lean on SBA 7(a) and asset based loans. Lenders look at reserve reports, decline curves, hedging and operator experience. Lenders that already fund this trade move faster because they know how to read its cash cycle.

What does NAICS 211120 cover?

Crude petroleum extraction. Industry level code in NAICS 2022, under 21 Mining, quarrying, and oil and gas extraction, 211 Oil and gas extraction, 2111 Oil and gas extraction, 21112 Crude petroleum extraction.

What financing do NAICS 211120 businesses use?

Equipment financing, working capital, SBA loans and invoice factoring are the products placed most for energy services businesses. Start an application and the AI matches the deal to lenders that fund this code.

Where do I put NAICS 211120?

On the SBA loan application, on federal Schedule C or Form 1120, on SAM.gov and state registrations, and on most lender applications. A business can report more than one code; use this one if it describes what produces most of your revenue.