This report examines the short-and medium-term economic and profitability outlook for Canada’s Gas Extraction Industry.
Canada’s Gas Extraction Industry: Industrial Outlook Summer 2013
Canada’s Gas Extraction Industry: Industrial Outlook Summer 2013
Industry Economic Analysis
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- Prices—North American natural gas prices are expected to remain near historic lows throughout the outlook period. Increased U.S. shale production and lack of access to Asian markets will continue to weigh on prices.
- British Columbia Production—Tight and shale gas developments in B.C., with their high concentrations of natural gas liquids and close proximity to future LNG export terminals, will result in higher returns.
- Capital Expenditures—Drilling activity will remain weak as the profitability of new developments remains poor in a high-cost, low-price environment. Oil and gas firms will shift capital spending toward oil drilling, weakening the long-term outlook for the industry.
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