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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 2015

Crude awakening: New extraction technology drives growth, but volatile oil prices pose a threat

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
$118bn
Annual Growth 10-15
3.0%
Annual Growth 15-20
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Profit
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Employment
36,283
Businesses
2,416
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 expected to cause 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 2020, 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 Products Chapter

The main products of the Oil Drilling and Gas Extraction industry in Canada are crude oil (including natural gas plant liquids) and natural gas. Generally, it is not unusual for product shares in this industry to vary quite markedly over short periods of time (one or two years) depending on the pace of price movements and output trends. Such is the case with the recent suppression in natural gas prices, a trend that exacerbated the discrepancy in revenue shares between the two products. On the other hand, skyrocketing prices in crude oil expanded its share of revenue. Variation in product shares is also affected by production from new fields, as it tends to come on-stream in fairly large increments, adding to the potential for substantial shifts in product shares... 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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