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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 | Jul 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
$83bn
Annual Growth 11-16
-8.5%
Annual Growth 16-21
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Profit
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Employment
56,308
Businesses
3,817
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 in the world price of crude oil caused revenue to contract 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 Locations Chapter

The spread of establishments within the Oil Drilling and Gas Extraction industry in Canada is centred primarily in Alberta, which is expected to account for an estimated 71.7% of all establishments in 2016. Saskatchewan and British Columbia are expected to account for a combined 18.2% of all establishments in 2016. Alberta is home to the Athabasca oil sands, which are large deposits of bitumen, or heavy crude oil. These oil sands are located in northeastern Alberta and are a major draw to the region as many companies currently work out of these oil sands. For example, the industry's largest operator, Suncor, currently has substantial production processes in these oil sands and they are the focus of the company's production strategy... 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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