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 - 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 heavy 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 firms, 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