Knowing the drill: Despite past volatility, high crude oil prices will keep revenue growing
IBISWorld’s Oil Drilling & Gas Extraction market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.
Market Share of Companies
Industry Statistics & Market Size
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Revenue
$133bn
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Annual Growth 08-13
-2.5%
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Annual Growth 13-18
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Profit
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Employment
36,382
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Businesses
2,432
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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 - Industry Investment Chapter
The Oil Drilling and Gas Extraction industry in Canada is highly capital intensive. In 2013, for every dollar spent on wages, the average industry firm will invest about $7.58 in capital equipment. This ratio ranks this industry among the most capital intensive of all industries. Firms rely heavily on large-scale capital equipment (including offshore platforms for drilling and production) for output rather than upon labour. In addition, the substantial capital cost of production facilities also reflects the need for a high degree of reliability. Facilities operate constantly and must be resistant to corrosion. They must also be able to withstand extreme weather, offshore and onshore... purchase to read more
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
About this Industry
Industry Definition
Main Activities
Similar Industries
Additional Resources
Industry at a Glance
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalisation & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios
Jargon & Glossary