Oil & Gas Extraction in Virginia — margin & local benchmarks
The oil & gas extraction industry's national net profit margin is 12.0% (national, owner-operator basis — no state-level margin exists in any public source). In Virginia, there are 14 oil & gas extraction establishments.
12.0%net profit margin · owner-operator basis
Owner-operator basis (IRS SOI sole proprietorships, TY2023): net income less deficit ÷ business receipts, at NAICS 211 (Oil & Gas Extraction). Sole-proprietor labor is not expensed, so this overstates corporate-style profit. Profit margin is published only nationally (IRS SOI);
this site never adjusts it to look local — see methodology.
Oil & Gas Extraction in Virginia
Local counts from Census County Business Patterns (2023) and BLS QCEW. Establishment counts survive disclosure suppression; payroll/wage cells may be withheld and are then shown as insufficient data.
| Metric | Value | |
|---|---|---|
| Establishments in Virginia | 14 | State 2023 source ↗ |
| Employment in Virginia | 221 | State 2023 source ↗ |
| Annual payroll in Virginia | $27,025,000 | State 2023 source ↗ |
| Average weekly wage in Virginia | $2,291 | State 2024 source ↗ |
Business survival rates by firm age are published by Census BDS at the national level only (not by state or industry jointly) — so no local survival figure is shown here, rather than a misleading one.
Metro-level counts, multi-year trends, and geography-to-geography comparison are available to subscribers. This page shows the current national margin plus current Virginia counts.
Frequently asked
How many oil & gas extraction businesses are in Virginia?
14 establishments (Census County Business Patterns, 2023).
What is the average oil & gas extraction wage in Virginia?
$2,291 per week (BLS QCEW 2024, private sector).
What profit margin do oil & gas extraction businesses make?
About 12.0% net margin nationally (owner-operator basis, IRS SOI) — no state-level margin is published.
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