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Canadian (TSX) Oil and Gas Drilling Industry Analysis

UpdatedAug 13, 2026
DataAggregated Company Financials
Companies8
  • 7D9.2%
  • 3M-7.1%
  • 1Y57.6%
  • YTDn/a

All of the companies in the Oil and Gas Drilling industry have been up over the last week, with the industry up 9.2%. This means that the industry has gained 58% over the past year. As for the next few years, earnings are expected to grow by 60% per annum.

Industry Valuation and Performance

Has the Canadian Oil and Gas Drilling Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 13 Aug 2026CA$3.3bCA$5.3b-CA$26,507,000.009.9x-125.2x0.6x
Sat, 11 Jul 2026CA$3.1bCA$5.1b-CA$31,768,000.0014.2x-98.3x0.6x
Mon, 08 Jun 2026CA$3.5bCA$5.1b-CA$31,768,000.0015.8x-111.1x0.7x
Wed, 06 May 2026CA$3.6bCA$5.1bCA$24.6m13x145.5x0.7x
Fri, 03 Apr 2026CA$3.4bCA$5.2bCA$25.1m10.8x135x0.7x
Sun, 01 Mar 2026CA$3.2bCA$5.2bCA$33.8m9.1x94.7x0.6x
Tue, 27 Jan 2026CA$2.7bCA$5.2bCA$106.4m7.4x25.5x0.5x
Thu, 25 Dec 2025CA$2.4bCA$5.2bCA$106.4m6.5x22.6x0.5x
Sat, 22 Nov 2025CA$2.2bCA$5.2bCA$106.4m6.3x20.4x0.4x
Mon, 20 Oct 2025CA$2.1bCA$5.3bCA$175.1m6.3x12.2x0.4x
Wed, 17 Sep 2025CA$2.2bCA$5.3bCA$175.1m6.5x12.4x0.4x
Fri, 15 Aug 2025CA$2.1bCA$5.3bCA$175.1m6.5x12x0.4x
Sun, 13 Jul 2025CA$2.1bCA$5.3bCA$218.4m6.5x9.6x0.4x
Tue, 10 Jun 2025CA$2.0bCA$5.3bCA$218.4m6.4x9.3x0.4x
Thu, 08 May 2025CA$1.8bCA$5.3bCA$221.3m5.5x8.1x0.3x
Sat, 05 Apr 2025CA$2.0bCA$5.3bCA$213.8m5.7x9.3x0.4x
Mon, 03 Mar 2025CA$2.3bCA$5.3bCA$244.7m8.2x9.4x0.4x
Wed, 29 Jan 2025CA$2.6bCA$5.3bCA$395.4m5.3x6.7x0.5x
Fri, 27 Dec 2024CA$2.5bCA$5.3bCA$395.4m5.3x6.4x0.5x
Sun, 24 Nov 2024CA$2.8bCA$5.3bCA$395.4m5.8x7x0.5x
Tue, 22 Oct 2024CA$2.6bCA$5.3bCA$364.3m7.4x7.1x0.5x
Thu, 19 Sep 2024CA$2.6bCA$5.3bCA$364.3m7x7.2x0.5x
Sat, 17 Aug 2024CA$2.8bCA$5.3bCA$364.3m7.5x7.6x0.5x
Mon, 15 Jul 2024CA$2.7bCA$5.4bCA$394.0m5.4x6.9x0.5x
Wed, 12 Jun 2024CA$2.6bCA$5.4bCA$394.0m5.2x6.7x0.5x
Fri, 10 May 2024CA$2.7bCA$5.4bCA$382.1m5.8x7.1x0.5x
Sun, 07 Apr 2024CA$2.9bCA$5.5bCA$461.4m5x6.2x0.5x
Tue, 05 Mar 2024CA$2.5bCA$5.5bCA$480.1m4.7x5.2x0.5x
Thu, 01 Feb 2024CA$2.5bCA$5.5bCA$303.2m6.7x8.4x0.5x
Sat, 30 Dec 2023CA$2.2bCA$5.5bCA$303.2m5.8x7.3x0.4x
Mon, 27 Nov 2023CA$2.4bCA$5.5bCA$303.2m6.6x7.9x0.4x
Wed, 25 Oct 2023CA$2.5bCA$5.4bCA$328.9m6.9x7.6x0.5x
Fri, 22 Sep 2023CA$2.8bCA$5.4bCA$328.9m7.1x8.6x0.5x
Sun, 20 Aug 2023CA$2.6bCA$5.4bCA$328.9m6.7x7.9x0.5x
Price to Earnings Ratio

7.9x


Total Market Cap: CA$2.6bTotal Earnings: CA$328.9mTotal Revenue: CA$5.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Drilling Industry Price to Earnings3Y Average 10.4x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Oil and Gas Drilling industry, and appear confident in long term growth rates.
  • The industry is trading close to its 3-year average PS ratio of 0.49x.
Past Earnings Growth
  • Total earnings for the Oil and Gas Drilling industry have declined over the last three years, with the industry now making a loss overall.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does Canadian Oil and Gas Drilling compare with similar industries?

CA Market1.38%
Energy3.05%
Energy Services7.11%
Oil and Gas Drilling9.20%
Oil and Gas Services6.67%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PD Precision DrillingCA$116.6811.2%
+CA$149.5m		52.8%PS0.8x
PHX PHX Energy ServicesCA$12.4110.6%
+CA$54.5m		63.7%PE12.4x
ESI Ensign Energy ServicesCA$3.615.6%
+CA$34.7m		72.7%PS0.4x
AKT AKITA DrillingCA$3.8911.1%
+CA$22.4m		n/aPS1.2x
ACX ACT Energy TechnologiesCA$6.558.4%
+CA$19.7m		39.1%PE9.9x

Latest News

ESI
CA$3.61
Ensign Energy Services
7D
5.6%
1Y
72.7%
ACX
CA$6.55
ACT Energy Technologies
7D
8.4%
1Y
39.1%
SDI
CA$0.24
Stampede Drilling
7D
4.3%
1Y
50.0%
Analysis Article • Aug 06

Additional Considerations Required While Assessing Stampede Drilling's (CVE:SDI) Strong Earnings

Stampede Drilling Inc. ( CVE:SDI ) just reported some strong earnings, and the market reacted accordingly with a...
PHX
CA$12.41
PHX Energy Services
7D
10.6%
1Y
63.7%
AKT
CA$3.89
AKITA Drilling
7D
11.1%
1Y
n/a
PD
CA$116.68
Precision Drilling
7D
11.2%
1Y
52.8%
Narrative Update • Aug 04

PD: Higher Fair Value And Buybacks Will Support Future Upside

Analysts have lifted their fair value estimate for Precision Drilling from about CA$110.62 to roughly CA$121.85. This change reflects updated assumptions for discount rate, revenue growth, profit margin and future P/E expectations.
HOH
CA$2.03
High Arctic Overseas Holdings
7D
6.8%
1Y
101.0%
Narrative Update • Jun 04

High Arctic Overseas Holdings Will Shine with recomence of drilling

*A PNG energy services monopoly trading at a 38% discount to audited book value, with drilling just restarted and a $14B LNG catalyst on the horizon ## The Setup High Arctic Overseas is the sole provider of specialist helicopter-portable drilling services in Papua New Guinea — a market with no real competition. After two years of near-zero drilling activity, three confirmed catalysts have landed in the last 30 days: - **Rig 103 reactivation notice received** — mobilisation July 2026, first well Q4 2026, 4 approved wells with option for more - **Atlas Copco exclusive distribution agreement** — sole PNG distributor for Power Technique products (generators, compressors, lighting) - **Santos approved $400M Agogo FID** — backfill drilling for existing PNG LNG, HOH's core customer The company carries **zero debt**, $11M USD cash, $16.9M USD working capital, and a book value of $2.09 USD per share — against a current price of CAD $1.79 ## The Big Catalyst: Papua LNG FID TotalEnergies (37.5%), ExxonMobil (37%), Santos (22.8%) are targeting FID in H2 2026 on a $14B LNG project.