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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

The Oil Drilling & Gas Extraction market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

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 - Industry Key Buyers Chapter

Market share concentration within the Oil Drilling and Gas Extraction industry in Canada is moderate, as the top four companies are expected to account for an estimated 35.5% of industry revenue in 2016. Of these, Suncor and Canada Natural Resources will generate the largest share of revenue, at a combined 22.7% of industry revenue in 2016.

Still, the industry consists of many large, multinational energy companies that operate on a global scale. The dispersion of the industry across Canada as well as the global-scale in which its companies compete on are representative of an industry with low market share concentration. These characteristics make it difficult for even major oil companies to control more than a small share of output... 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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