Oil & Gas Field Services in Canada
Operators in the Oil and Gas Field Services industry in Canada have experienced volatile market conditions over the five years to 2019. World commodity prices performed well in the years leading up to the reporting period. However, a protracted fall in natural gas and crude oil prices adversely affected revenue between late 2014 and 2016. Demand for industry services is closely linked to commodity prices. The sharp decline in oil and gas prices cut into activity levels and revenue for downstream extraction industries, cutting into demand for industry services and industry profit margins. Over the next five years, IBISWorld projects industry revenue will grow. With prices of oil and gas forecast to rise, this will benefit operators by expanding demand from downstream industries, benefiting prices and profit margins.
Industry operators provide support services to oil and gas extraction companies and mining and quarrying companies. These services include drilling, reserve estimates, pressure pumping, cementing and well maintenance.
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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