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 Winter 2013
Canada’s Gas Extraction Industry: Industrial Outlook Winter 2013
Industry Economic Analysis
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- Prices—Although prices remain well below historical norms, there is some evidence that the worst is behind us. Prices are forecast to rise moderately going forward, but will stay well below their pre-recession peaks.
- Production—Drilling activity in the past few years has been incredibly weak, and this will weigh on future production. Furthermore, the majority of highproductivity fields have already been exploited.
- Trade—With domestic production continuing to increase, the U.S. is inching closer to self-sufficiency. This weakens demand for Canadian natural gas. And without overseas export capacity, Canadian producers may find themselves without any foreign customers within the next 15 years.
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