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Oil Drilling & Gas Extraction in Canada: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Oil Drilling & Gas Extraction in Canada Market Research Report | NAICS 21111CA | May 2014

Knowing the drill: Despite past volatility, high crude oil prices will keep revenue growing

IBISWorld’s Oil Drilling & Gas Extraction market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Industry Statistics & Market Size
Revenue
$129bn
Annual Growth 09-14
7.8%
Annual Growth 14-19
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Profit
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Employment
39,983
Businesses
2,566
Industry Analysis & Industry Trends

Over the past five years, the industry has been marked by extreme volatility associated with crude oil and natural gas prices, leading to an overall decline in industry revenue. Nonetheless, crude oil prices are anticipated to stay elevated, helping revenue grow. Over the next five years, Canada will continue to rely on the United States for a significant portion of crude oil and natural gas sales. Continued growth in production in oil sands will also facilitate a projected revenue increase... purchase to read more

Industry Report - Industry Investment Chapter

The Oil Drilling and Gas Extraction industry in Canada is highly capital intensive. In 2013, for every dollar spent on wages, the average industry firm will invest about $5.72 in capital equipment. This ratio ranks this industry among the most capital intensive of all industries. Companies rely heavily on large-scale capital equipment (including offshore platforms for drilling and production) for output rather than upon labour. In addition, the substantial capital cost of production facilities also reflects the need for a high degree of reliability. Facilities operate constantly and must be resistant to corrosion. They must also be able to withstand extreme weather, offshore and onshore... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Oil Drilling & Gas Extraction Industry?

Firms in this industry operate and develop oil and gas field properties. Activities include the exploration and production of crude petroleum; the mining and extraction of oil from oil shale and oil sands; the exploration and production of natural gas; sulfur recovery from natural gas; and recovery of hydrocarbon liquids. Firms may operate oil and gas wells on their own account or for others on a contract or fee basis.

Industry Products
Crude oilNatural gas
 
Industry Activities
Oil extractionNatural gas extractionExploration of crude oil and natural gas


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