Oil Drilling & Gas Extraction in Canada
The Oil Drilling and Gas Extraction industry in Canada is highly dependent on global market prices of crude oil and natural gas. The industry experienced booming growth in the years leading up to the reporting period, with rising prices leading to significant growth in investment. Despite these revenue difficulties, Canada remains one of the largest energy producers in the world. Expanded use of hydraulic fracturing and horizontal drilling techniques has enabled industry operators to tap into previously uneconomical deposits. Over the five years to 2024, the industry is expected to continue its recovery due to rising domestic production and improved infrastructure which will likely bolster domestic prices. However, steady growth overall in production and prices will likely boost revenue and help industry profit margins recover.
Companies in the Canadian Oil Drilling and Gas Extraction 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, sulphur 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.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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