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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 | Feb 2013

Knowing the drill: Despite past volatility, high crude oil prices will keep revenue growing

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
$133bn
Annual Growth 08-13
-2.5%
Annual Growth 13-18
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Profit
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Employment
36,382
Businesses
2,432
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

 


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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