Canada Oil and Gas Exploration and Production Market Volumes and Forecast by Terrain, Assets and Major Companies

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Canada Oil and Gas Exploration and Production Market Overview

Canada is the second-largest hydrocarbon producer in North America behind the United States (US). The country holds 77.7 billion barrels of crude oil and condensate reserves, of which 52.3 billion barrels are still unrecovered. Also, the country has 218.6 billion cubic feet (bcf) of Natural Gas reserves, of which 133.9 bcf remain underground.

The Canada oil and gas E&P market research report provides an outlook of oil & gas production by active and upcoming assets, terrain, and major companies. The detailed report covers crucial information about the recently licensed block details and other latest discoveries. In addition, insights regarding the latest mergers & acquisitions related to the Canadian oil and gas E&P sector are also provided in this report.

Forecast Period 2023-2028
Historical Period 2019-2022
Key Terrains (Crude Oil and Condensate Production) ·        Onshore

·        Shallow Water

·        Deepwater

Key Assets (Gross Crude Oil and Condensate

Production)

·        Syncrude (Syncrude Canada Ltd.)

·        Athabasca Oil Sands Project (CNRL)

·        Kearl Oil Sands Project (Imperial Oil Limited)

·        Base Operations (Suncor Energy Inc.)

·        Horizon (CNRL)

Key Assets

(Marketed Natural Gas Production)

·        Deep Basin (Other) AB

·        Montney (Other) AB

·        Montney (Ovintiv Inc) BC

·        Montney (Tourmaline Oil Corp.) BC

·        British Columbia (Other)

Leading Companies (Crude Oil and Condensate Production) ·        Canadian Natural Resources Ltd

·        Suncor Energy Inc

·        Cenovus Energy Inc

·        Exxon Mobil Corp

·        TotalEnergies SE

Leading Companies (Marketed Natural Gas Production) ·        Tourmaline Oil Corp

·        Canadian Natural Resources Ltd

·        ARC Resources Ltd

·        Ovintiv Inc

·        Cenovus Energy Inc

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Canada Oil and Gas E&P Market by Terrains

The key terrains in Canada’s oil and gas E&P market are onshore, shallow water, deepwater, and ultra-deepwater. In 2022, the onshore terrains were most preferred terrains for both crude oil production and natural gas production.

Canada Oil and Gas E&P Market Analysis by Crude Oil Production Terrains, 2022 (%)

Canada Oil and Gas E&P Market Analysis by Crude Oil Production Terrains, 2022 (%)

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Canada Oil and Gas E&P Market Segmentation by Crude Oil and Condensate Production Assets

The key crude oil and condensate production assets in Canada’s oil and gas E&P market are Syncrude (Syncrude Canada Ltd.), Athabasca Oil Sands Project (CNRL), Kearl Oil Sands Project (Imperial Oil Limited), Base Operations (Suncor Energy Inc.), and Horizon (CNRL) among others. In 2022, Syncrude (Syncrude Canada Ltd.) was the leading crude oil and condensate production asset.

Canada Oil and Gas E&P Market Analysis by Crude Oil and Condensate Production Assets, 2022 (%)

Canada Oil and Gas E&P Market Analysis by Crude Oil and Condensate Production Assets, 2022 (%)

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Canada Oil and Gas E&P Market Segmentation by Marketed Natural Gas Production Assets

The key marketed natural gas production assets in Canada’s oil and gas E&P market are Deep Basin (Other) AB, Montney (Other) AB, Montney (Ovintiv Inc) BC, Montney (Tourmaline Oil Corp.) BC, and British Columbia (Other) among others. In 2022, Deep Basin (Other) AB was the leading marketed natural gas production asset.

Canada Oil and Gas E&P Market Analysis by Marketed Natural Gas Production Assets 2022 (%)

Canada Oil and Gas E&P Market Analysis by Marketed Natural Gas Production Assets 2022 (%)

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Canada Oil and Gas E&P Market - Competitive Landscape

Leading Crude Oil & Condensate Production Companies: The leading crude oil & condensate production companies in the Canada oil and gas E&P market are Canadian Natural Resources Ltd, Suncor Energy Inc., Cenovus Energy Inc., and Exxon Mobil Corp among others. Canadian Natural Resources Ltd was the leading company with the highest net entitlement crude oil and condensate production in 2022.

Leading Natural Gas Production Companies: The leading natural gas production companies in the Canada oil and gas E&P market are Tourmaline Oil Corp, Canadian Natural Resources Ltd., ARC Resources Ltd, and Ovintiv Inc. among others. Tourmaline Oil Corp accounted for the second-highest net entitlement natural gas production in 2022.

Canada Oil and Gas E&P Analysis by Natural Gas Production Companies, 2022 (%)

Canada Oil and Gas E&P Analysis by Natural Gas Production Companies, 2022 (%)

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Segments Covered in the Report

Canada Oil and Gas E&P Market Terrains Outlook (2019-2028)

  • Onshore
  • Shallow Water
  • Deepwater

Scope

Canada’s oil and gas production outlook by assets terrain, and major companies

Key details of active and upcoming oil and gas assets in the country

Recently licensed blocks details, and latest discoveries

Latest mergers and acquisitions related to the E&P sector in the country

Reasons to Buy

  • Gain a strong understanding of Canada’s E&P sector
  • Facilitate decision-making based on strong historical and outlook of oil and gas production data, licensed blocks details, and discoveries
  • Assess your competitor’s production outlook and licensed blocks details in the country
  • Analyze the latest M&A landscape related to the country’s E&P sector

Table of Contents

  • 1 List of Tables
  • 2 List of Figures
  • 3 Canada Exploration and Production Sector

    • 3.1 Canada Exploration and Production Sector, Oil and Gas Production Outlook
    • 3.2 Canada Exploration and Production Sector, Marketed Natural Gas Production by Terrain
    • 3.3 Canada Exploration and Production Sector, Gross Crude Oil and Condensate Production by Assets
    • 3.4 Canada Exploration and Production Sector, Marketed Natural Gas Production by Assets
    • 3.5 Canada Exploration and Production Sector, Net Entitlement Crude Oil and Condensate Production by Major Companies
    • 3.6 Canada Exploration and Production Sector, Net Entitlement Natural Gas Production by Major Companies
    • 3.7 Canada Exploration and Production Sector, Active and Upcoming Oil and Gas Asset Details
    • 3.8 Canada Exploration and Production Sector, Exploration

      • 3.8.1 Canada Exploration and Production Sector, Exploration Details, Exploration

    • 3.9 Canada Exploration and Production Sector, Major Oil and Gas Discoveries

      • 3.9.1 Canada Exploration and Production Sector, Number of Oil and Gas Discoveries, 2019 – 2023
      • 3.9.2 Canada Exploration and Production Sector, Oil and Gas Discovery Details

  • 4 Recent Contracts
  • 5 Appendix
  • 6 Methodology

Table

Canada, Total Gross Crude Oil and Condensate Production (bd) by Terrain, 2019-2028 8

Canada, Marketed Natural Gas Production by Terrain (mmcfd), 2019-2028 9

Canada, Gross Crude Oil and Condensate Production (bd), by Assets, 2019-2028 11

Canada, Marketed Natural Gas Production (mmcfd), by Assets, 2019-2028 15

Canada, Net Entitlement Crude Oil and Condensate Production (bd), by Major Companies, 2019-2028 20

Canada, Net Entitlement Natural Gas Production (mmcfd), by Major Companies, 2019-2028 24

Canada, Active and Upcoming Oil and Gas Field Assets Details 28

Canada, Recently Licensed Block Details 34

Canada, Number of Oil and Gas Discoveries, 2019 – 2023 36

Canada, Oil and Gas Discovery Details, 2019 – 2023 37

Recent Contracts 38

Recent M&A Activity 47

Figures

Canada, Total Gross Crude Oil and Condensate Production (bd) by Terrain, 2019-2028 8

Canada, Marketed Natural Gas Production by Terrain (mmcfd), 2019-2028 9

Top 10 Fields in Canada by 2019-2028 Crude Oil Production 10

Top 10 Fields in Canada by 2019-2028 Natural Gas Production 14

Top 10 Companies in Canada by 2019-2028 Crude Oil and Condensate Production 19

Top 10 Companies in Canada by 2019-2028 Natural Gas Production 23

Canada, Active and Upcoming Oil and Gas Assets by Production Start Year 2019-2028 27

Canada, Number of Oil and Gas Discoveries, 2019 – 2023 36

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