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Canadian (TSX) Oil and Gas Drilling Industry Analysis

UpdatedJun 29, 2026
DataAggregated Company Financials
Companies8
  • 7D-7.1%
  • 3M-16.6%
  • 1Y50.7%
  • YTDn/a

Over the last 7 days, the Oil and Gas Drilling industry has dropped 7.1%, driven by a pullback from Precision Drilling of 7.5%. Over the past 12 months, the industry was up 51%. Looking forward, earnings are forecast to grow by 83% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 29 Jun 2026CA$3.0bCA$5.1b-CA$31,768,000.0014.1x-95.4x0.6x
Wed, 27 May 2026CA$3.5bCA$5.1b-CA$31,768,000.0015.9x-111.1x0.7x
Fri, 24 Apr 2026CA$3.3bCA$5.2bCA$25.1m10.8x131.4x0.6x
Sun, 22 Mar 2026CA$3.6bCA$5.2bCA$36.9m9.8x97.3x0.7x
Tue, 17 Feb 2026CA$3.1bCA$5.2bCA$49.4m7.9x62x0.6x
Thu, 15 Jan 2026CA$2.6bCA$5.2bCA$106.4m7x24x0.5x
Sat, 13 Dec 2025CA$2.5bCA$5.2bCA$106.4m6.7x23.4x0.5x
Mon, 10 Nov 2025CA$2.2bCA$5.2bCA$106.4m6.2x20.6x0.4x
Wed, 08 Oct 2025CA$2.3bCA$5.3bCA$175.1m6.6x12.9x0.4x
Fri, 05 Sep 2025CA$2.2bCA$5.3bCA$175.1m6.5x12.3x0.4x
Sun, 03 Aug 2025CA$2.1bCA$5.3bCA$216.6m6.5x9.8x0.4x
Tue, 01 Jul 2025CA$2.0bCA$5.3bCA$218.4m6.4x9.3x0.4x
Thu, 29 May 2025CA$1.9bCA$5.3bCA$218.4m6.4x8.6x0.4x
Sat, 26 Apr 2025CA$1.9bCA$5.3bCA$212.6m5.7x8.8x0.4x
Mon, 24 Mar 2025CA$2.1bCA$5.3bCA$200.7m5.9x10.4x0.4x
Wed, 19 Feb 2025CA$2.4bCA$5.3bCA$263.5m7.7x9.2x0.5x
Fri, 17 Jan 2025CA$2.8bCA$5.3bCA$395.4m5.6x7.1x0.5x
Sun, 15 Dec 2024CA$2.6bCA$5.3bCA$395.4m5.4x6.6x0.5x
Tue, 12 Nov 2024CA$2.7bCA$5.3bCA$397.2m5.7x6.8x0.5x
Thu, 10 Oct 2024CA$2.6bCA$5.3bCA$364.3m7.3x7.1x0.5x
Sat, 07 Sep 2024CA$2.6bCA$5.3bCA$364.3m7x7x0.5x
Mon, 05 Aug 2024CA$2.7bCA$5.3bCA$366.7m8.1x7.3x0.5x
Wed, 03 Jul 2024CA$2.6bCA$5.4bCA$394.0m5.3x6.7x0.5x
Fri, 31 May 2024CA$2.7bCA$5.4bCA$394.0m5.5x6.9x0.5x
Sun, 28 Apr 2024CA$2.7bCA$5.4bCA$399.4m5.4x6.9x0.5x
Tue, 26 Mar 2024CA$2.6bCA$5.4bCA$469.9m4.6x5.5x0.5x
Thu, 22 Feb 2024CA$2.4bCA$5.5bCA$446.4m4.9x5.4x0.4x
Sat, 20 Jan 2024CA$2.3bCA$5.5bCA$303.2m6.2x7.4x0.4x
Mon, 18 Dec 2023CA$2.2bCA$5.5bCA$303.2m5.8x7.2x0.4x
Wed, 15 Nov 2023CA$2.4bCA$5.5bCA$303.2m6.7x8x0.4x
Fri, 13 Oct 2023CA$2.6bCA$5.4bCA$328.9m6.7x7.8x0.5x
Sun, 10 Sep 2023CA$2.8bCA$5.4bCA$328.9m7.1x8.6x0.5x
Tue, 08 Aug 2023CA$2.5bCA$5.3bCA$318.3m6.6x7.9x0.5x
Thu, 06 Jul 2023CA$1.9bCA$5.1bCA$260.7m5.7x7.4x0.4x
Price to Earnings Ratio

7.4x


Total Market Cap: CA$1.9bTotal Earnings: CA$260.7mTotal Revenue: CA$5.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Drilling Industry Price to Earnings3Y Average 14.6x202420252026
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 0.48x.
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 Market-0.35%
Energy-0.62%
Energy Services-0.93%
Oil and Gas Drilling-7.14%
Oil and Gas Services0.34%
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
SDI Stampede DrillingCA$0.234.5%
+CA$2.0m		70.4%PE11x
HOH High Arctic Overseas HoldingsCA$1.851.1%
+CA$248.3k		77.9%n/a

Latest News

ESI
CA$3.24
Ensign Energy Services
7D
-9.2%
1Y
44.0%
Narrative Update • Jun 28

ESI: Recent Price Objective Revisions Will Support Higher Forward P/E Multiple

Analysts have lifted their fair value estimate for Ensign Energy Services to CA$5.00 from CA$3.50, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E, along with recent CA$0.25 price target increases from several firms. Analyst Commentary Recent research updates on Ensign Energy Services point to a cluster of price target moves, with several bullish analysts lifting their targets by CA$0.25.
PD
CA$110.18
Precision Drilling
7D
-7.6%
1Y
70.8%
Narrative Update • Jun 24

PD: Share Buybacks Will Support Higher Future Earnings Power

Analysts have kept their CA$175.00 price target for Precision Drilling unchanged, citing updated assumptions for discount rate, revenue growth, profit margin and future P/E that still support this valuation level. What’s in the News for Precision Drilling Precision Drilling reported that from January 1, 2026 to March 31, 2026, it repurchased 36,874 shares for CA$4 million under its current share buyback program.
PHX
CA$10.22
PHX Energy Services
7D
-5.8%
1Y
27.0%
AKT.A
CA$3.46
AKITA Drilling
7D
-4.2%
1Y
42.4%
ACX
CA$5.86
ACT Energy Technologies
7D
-5.0%
1Y
28.5%
HOH
CA$1.85
High Arctic Overseas Holdings
7D
1.1%
1Y
77.9%
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.
SDI
CA$0.23
Stampede Drilling
7D
4.5%
1Y
70.4%