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Canadian (TSX) Oil and Gas Drilling Industry Analysis

UpdatedDec 27, 2025
DataAggregated Company Financials
Companies8
  • 7D-0.1%
  • 3M6.8%
  • 1Y-2.0%
  • YTDn/a

Over the last 7 days, the Oil and Gas Drilling industry has remained flat, although notably Ensign Energy Services gained 3.4%. Furthermore, the industry has been flat for the past year as well. Looking forward, earnings are forecast to grow by 39% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Dec 2025CA$2.4bCA$5.2bCA$106.4m6.5x22.6x0.5x
Mon, 24 Nov 2025CA$2.2bCA$5.2bCA$106.4m6.3x20.6x0.4x
Wed, 22 Oct 2025CA$2.2bCA$5.3bCA$175.1m6.2x12.3x0.4x
Fri, 19 Sep 2025CA$2.2bCA$5.3bCA$175.1m6.6x12.5x0.4x
Sun, 17 Aug 2025CA$2.1bCA$5.3bCA$175.1m6.5x11.8x0.4x
Tue, 15 Jul 2025CA$2.1bCA$5.3bCA$218.4m6.6x9.6x0.4x
Thu, 12 Jun 2025CA$2.1bCA$5.3bCA$218.4m6.7x9.6x0.4x
Sat, 10 May 2025CA$1.8bCA$5.3bCA$217.0m5.5x8.4x0.3x
Mon, 07 Apr 2025CA$1.8bCA$5.3bCA$213.8m5.7x8.5x0.3x
Wed, 05 Mar 2025CA$2.2bCA$5.3bCA$244.7m7.6x8.8x0.4x
Fri, 31 Jan 2025CA$2.7bCA$5.3bCA$395.4m5.4x6.7x0.5x
Sun, 29 Dec 2024CA$2.6bCA$5.3bCA$395.4m5.3x6.5x0.5x
Tue, 26 Nov 2024CA$2.8bCA$5.3bCA$395.4m5.8x7x0.5x
Thu, 24 Oct 2024CA$2.6bCA$5.3bCA$364.3m7.2x7.1x0.5x
Sat, 21 Sep 2024CA$2.6bCA$5.3bCA$364.3m7.2x7.2x0.5x
Mon, 19 Aug 2024CA$2.7bCA$5.3bCA$364.3m7.5x7.5x0.5x
Wed, 17 Jul 2024CA$2.9bCA$5.4bCA$394.0m5.9x7.3x0.5x
Fri, 14 Jun 2024CA$2.6bCA$5.4bCA$394.0m5.1x6.5x0.5x
Sun, 12 May 2024CA$2.7bCA$5.4bCA$382.1m5.7x6.9x0.5x
Tue, 09 Apr 2024CA$2.9bCA$5.5bCA$461.4m5x6.2x0.5x
Thu, 07 Mar 2024CA$2.5bCA$5.5bCA$480.1m4.6x5.2x0.5x
Sat, 03 Feb 2024CA$2.4bCA$5.5bCA$303.2m6.4x7.8x0.4x
Mon, 01 Jan 2024CA$2.2bCA$5.5bCA$303.2m5.8x7.3x0.4x
Wed, 29 Nov 2023CA$2.4bCA$5.5bCA$303.2m6.4x7.8x0.4x
Fri, 27 Oct 2023CA$2.4bCA$5.4bCA$326.7m6.6x7.3x0.4x
Sun, 24 Sep 2023CA$2.8bCA$5.4bCA$328.9m7.1x8.6x0.5x
Tue, 22 Aug 2023CA$2.6bCA$5.4bCA$328.9m6.6x7.9x0.5x
Thu, 20 Jul 2023CA$2.2bCA$5.1bCA$260.7m5.4x8.6x0.4x
Sat, 17 Jun 2023CA$1.9bCA$5.1bCA$260.7m5x7.2x0.4x
Mon, 15 May 2023CA$1.9bCA$5.1bCA$260.7m5.3x7.4x0.4x
Wed, 12 Apr 2023CA$2.3bCA$4.4bCA$66.6m10.7x34.1x0.5x
Fri, 10 Mar 2023CA$2.6bCA$4.4bCA$49.9m12.5x52.5x0.6x
Sun, 05 Feb 2023CA$2.9bCA$3.9b-CA$36,446,265.0012.8x-80.9x0.8x
Tue, 03 Jan 2023CA$3.0bCA$3.9b-CA$36,446,265.0012.8x-81.2x0.8x
Price to Earnings Ratio

-81.2x


Total Market Cap: CA$3.0bTotal Earnings: -CA$36,446,265.00Total Revenue: CA$3.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Drilling Industry Price to Earnings3Y Average -2.3x20242025
Current Industry PE
  • Investors are pessimistic on the Canadian Oil and Gas Drilling industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 22.6x which is higher than its 3-year average PE of -2.3x.
  • 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 gone up over the last three years, and the industry is now profitable. Revenues have grown 10.0% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Comparison

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

CA Market0.90%
Energy1.06%
Energy Services1.24%
Oil and Gas Drilling-0.13%
Oil and Gas Services1.50%
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$2.453.4%
+CA$14.7m		-14.0%PS0.3x
PHX PHX Energy ServicesCA$7.610.9%
+CA$3.2m		-18.5%PE6.7x
HOH High Arctic Overseas HoldingsCA$1.101.9%
+CA$249.0k		-24.7%n/a

Latest News

PD
CA$95.42
Precision Drilling
7D
-0.9%
1Y
14.6%

PD: Leadership Shift And Buybacks Will Shape Balanced Future Outlook

Analysts have modestly raised their price target for Precision Drilling from approximately $103.43 to $105.50, citing slightly stronger long term revenue growth expectations and a lower discount rate. These factors more than offset a reduced profit margin outlook and a higher projected future P/E multiple.
PHX
CA$7.61
PHX Energy Services
7D
0.9%
1Y
-18.5%
ESI
CA$2.45
Ensign Energy Services
7D
3.4%
1Y
-14.0%

ESI: Higher Long Term Multiple Will Support Returns Despite Flat Rig Demand

Analysts have modestly raised their price target on Ensign Energy Services to C$3.00 from C$2.50, citing a higher long term valuation multiple despite expectations for flat near term rig demand, as well as softer revenue growth and margins. Analyst Commentary Recent research updates reflect a more balanced view on Ensign Energy Services, as analysts adjust ratings while modestly increasing their valuation framework.
AKT.A
CA$1.95
AKITA Drilling
7D
-2.0%
1Y
21.9%
ACX
CA$5.15
ACT Energy Technologies
7D
-4.6%
1Y
-18.0%
HOH
CA$1.10
High Arctic Overseas Holdings
7D
1.9%
1Y
-24.7%