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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 | Jan 2016

Crude awakening: Volatile oil prices hinder growth, but new extraction technology presents opportunity

IBISWorld’s Oil Drilling & Gas Extraction market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Industry Statistics & Market Size
Revenue
$100bn
Annual Growth 11-16
-4.9%
Annual Growth 16-21
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Profit
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Employment
48,827
Businesses
4,258
Industry Analysis & Industry Trends

The Oil Drilling and Gas Extraction industry has recently entered a boom, which has largely been encouraged by technological improvements that have enabled the development of Alberta's oil sands. Increased production over the past five years has led to consistent revenue growth, though a sharp decline is the world price of crude oil is caused a contraction of revenue in 2015. Still, the size of Canada's proven oil reserves trails only Saudi Arabia and Venezuela, and continued production of the oil sands and offshore resources will spur overall growth through 2021, despite weakening prices in the short term. Additionally, improvements in the US economy, the industry's largest international market, are expected to boost export revenue in the next five years... purchase to read more

Industry Report - Starting a New Business Chapter

There are substantial barriers to entry to the Oil Drilling and Gas Extraction industry. For example, this industry is associated with high risk. The nature of oil and gas exploration and development, as well as the volatile shocks in the prices of these commodities, creates a substantial amount of risk for industry growth. Additionally, the industry is highly capital intensive. It requires significant amounts of capital equipment, including offshore platforms and other extraction machinery to bring fields into production.

Finally, many of the major oil and gas producers are vertically integrated companies, with interests in downstream operations, such as petroleum refining and marketing. New entrants lacking such linkages may find it difficult to penetrate the market... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Oil Drilling & Gas Extraction Industry?

Companies 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. Companies 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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