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Canadian (TSX) Oil and Gas Drilling Industry Analysis

UpdatedMay 14, 2026
DataAggregated Company Financials
Companies8
  • 7D1.8%
  • 3M21.2%
  • 1Y81.9%
  • YTDn/a

Over the last 7 days, the Oil and Gas Drilling industry has remained flat, although notably Ensign Energy Services gained 7.7%. The past year has been better, since the industry has gained 82% in that time. As for the next few years, earnings are expected to grow by 72% 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, 14 May 2026CA$3.6bCA$5.1b-CA$14,910,000.0019.1x-239.4x0.7x
Sat, 11 Apr 2026CA$3.4bCA$5.2bCA$25.1m10.7x135.3x0.7x
Mon, 09 Mar 2026CA$3.3bCA$5.2bCA$41.2m9.4x80x0.6x
Wed, 04 Feb 2026CA$2.8bCA$5.2bCA$106.4m7.4x26x0.5x
Fri, 02 Jan 2026CA$2.5bCA$5.2bCA$106.4m6.4x23.1x0.5x
Sun, 30 Nov 2025CA$2.3bCA$5.2bCA$106.4m6.5x21.9x0.4x
Tue, 28 Oct 2025CA$2.3bCA$5.2bCA$128.1m6.3x17.9x0.4x
Thu, 25 Sep 2025CA$2.2bCA$5.3bCA$175.1m6.8x12.7x0.4x
Sat, 23 Aug 2025CA$2.1bCA$5.3bCA$175.1m6.7x11.9x0.4x
Mon, 21 Jul 2025CA$2.1bCA$5.3bCA$218.4m6.6x9.7x0.4x
Wed, 18 Jun 2025CA$2.1bCA$5.3bCA$218.4m7.1x9.8x0.4x
Fri, 16 May 2025CA$2.0bCA$5.3bCA$221.9m5.9x8.8x0.4x
Sun, 13 Apr 2025CA$1.8bCA$5.3bCA$213.8m6.3x8.6x0.3x
Tue, 11 Mar 2025CA$2.1bCA$5.3bCA$192.5m7.1x10.9x0.4x
Thu, 06 Feb 2025CA$2.5bCA$5.3bCA$395.4m5.2x6.4x0.5x
Sat, 04 Jan 2025CA$2.7bCA$5.3bCA$395.4m5.6x6.9x0.5x
Mon, 02 Dec 2024CA$2.7bCA$5.3bCA$395.4m5.6x6.8x0.5x
Wed, 30 Oct 2024CA$2.5bCA$5.3bCA$364.3m7.1x6.9x0.5x
Fri, 27 Sep 2024CA$2.5bCA$5.3bCA$364.3m6.8x7x0.5x
Sun, 25 Aug 2024CA$2.8bCA$5.3bCA$364.3m7.6x7.6x0.5x
Tue, 23 Jul 2024CA$2.8bCA$5.4bCA$394.0m5.7x7.1x0.5x
Thu, 20 Jun 2024CA$2.5bCA$5.4bCA$394.0m5.1x6.4x0.5x
Sat, 18 May 2024CA$2.7bCA$5.4bCA$394.0m5.6x6.8x0.5x
Mon, 15 Apr 2024CA$2.8bCA$5.5bCA$461.4m4.9x6x0.5x
Wed, 13 Mar 2024CA$2.5bCA$5.5bCA$480.1m4.5x5.3x0.5x
Fri, 09 Feb 2024CA$2.4bCA$5.5bCA$446.4m4.8x5.5x0.4x
Sun, 07 Jan 2024CA$2.2bCA$5.5bCA$303.2m6x7.4x0.4x
Tue, 05 Dec 2023CA$2.3bCA$5.5bCA$303.2m6.4x7.7x0.4x
Thu, 02 Nov 2023CA$2.4bCA$5.4bCA$315.8m6.8x7.4x0.4x
Sat, 30 Sep 2023CA$2.9bCA$5.4bCA$328.9m7.2x8.7x0.5x
Mon, 28 Aug 2023CA$2.6bCA$5.4bCA$328.9m6.6x7.8x0.5x
Wed, 26 Jul 2023CA$2.3bCA$5.1bCA$260.7m5.4x8.8x0.5x
Fri, 23 Jun 2023CA$1.9bCA$5.1bCA$260.7m5.6x7.1x0.4x
Sun, 21 May 2023CA$2.0bCA$5.1bCA$260.7m5.3x7.5x0.4x
Price to Earnings Ratio

7.5x


Total Market Cap: CA$2.0bTotal 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 20x202420252026
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 0.47x.
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 Market0.64%
Energy1.74%
Energy Services0.16%
Oil and Gas Drilling1.82%
Oil and Gas Services-0.18%
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
ESI Ensign Energy ServicesCA$4.208.0%
+CA$56.9m		103.9%PS0.5x
PD Precision DrillingCA$127.792.2%
+CA$34.8m		102.9%PE898.5x
ACX ACT Energy TechnologiesCA$6.543.5%
+CA$8.5m		33.5%PE19.1x
WRG Western Energy ServicesCA$3.011.0%
+CA$1.0m		44.7%PS0.5x
HOH High Arctic Overseas HoldingsCA$1.435.9%
+CA$993.3k		32.4%n/a

Latest News

ACX
CA$6.54
ACT Energy Technologies
7D
3.5%
1Y
33.5%
ESI
CA$4.20
Ensign Energy Services
7D
8.0%
1Y
103.9%
Narrative Update • May 13

ESI: Future Fair Value Will Rely On Earnings Power And P/E Assumptions

Narrative Update Analysts have lifted Ensign Energy Services' price target by CA$0.25 to CA$3.50. This reflects updated views on fair value, risk and earnings assumptions following recent research from multiple firms.
PD
CA$127.79
Precision Drilling
7D
2.2%
1Y
102.9%
Narrative Update • May 12

PD: Share Repurchases Will Support Stronger Margins And Future Upside

Analysts have raised their price target on Precision Drilling from CA$143.88 to CA$151.11, citing updated assumptions around revenue, profit margins and a lower future P/E multiple in their models. What's in the News Precision Drilling completed a share repurchase program announced on September 11, 2025, buying back 289,118 shares for CA$24.97 million.
PHX
CA$11.30
PHX Energy Services
7D
-5.1%
1Y
35.7%
AKT.A
CA$4.43
AKITA Drilling
7D
-3.9%
1Y
148.9%
SDI
CA$0.21
Stampede Drilling
7D
-2.3%
1Y
68.0%
WRG
CA$3.01
Western Energy Services
7D
1.0%
1Y
44.7%
HOH
CA$1.43
High Arctic Overseas Holdings
7D
5.9%
1Y
32.4%