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 2012
Canada’s Gas Extraction Industry: Industrial Outlook Summer 2012
Industry Economic Analysis
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- Prices—The combination of rising U.S. supply and stagnant economic activity in North America has reduced prices to the point that all but the cheapest North American gas plays are uneconomic.
- Production—Canadian production will continue to trend down over the next five years, particularly in Alberta, where competition with the oil sands makes operating costs highest.
- Trade—The Canadian dollar has appreciated considerably in the past five years, driven up by elevated oil prices. Historically, the majority of Canadian natural gas production has been exported to the U.S. market, and a higher dollar lowers the effective prices that Canadian producers receive.
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