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Oil Drilling & Gas Extraction in Ontario

Author.Name IBISWorld Canada Last Updated: August 2025 NAICS ON21111CA

Oil Drilling & Gas Extraction in Ontario industry analysis

Revenue for the Oil Drilling & Gas Extraction industry in Ontario is expected to grow an annualized x.x% to $x.x billion over the five years to 2025, while revenue for the national industry will likely grow at x.x% during the same period. The number of industry establishments has decreased an annualized -x.x% to xxx locations over the past five years. Industry employment has decreased an annualized -x.x% to x,xxx workers during the period, while industry wages have decreased an annualized -x.x% to $x.x million.

Over the five years to 2030, provincial industry revenue is expected to grow an annualized x.x% to $x.x billion, while revenue for the national industry will likely grow x.x%. The number of industry establishments is forecast to decline -x.x% to xxx locations over the next five years. Industry employment is expected to increase an annualized x% to x,xxx workers during the outlook period, while industry wages likely increase x% to $x.x million.

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About the Oil Drilling & Gas Extraction in Ontario Market Research Report

What’s Included in the Oil Drilling & Gas Extraction in Ontario Market Research Report

Definition of the Oil Drilling & Gas Extraction in Ontario?

Companies in the Canadian Oil Drilling and Gas Extraction industry operate and develop oil and gas field properties. Activities include exploring and producing crude petroleum, mining and extracting oil from oil shale and oil sands, exploring and producing natural gas, recovering sulphur from natural gas and recovering hydrocarbon liquids. Companies may operate oil and gas wells on their own account or for others on a contract or fee basis.

What’s included in the Oil Drilling & Gas Extraction in Ontario?

The Oil Drilling & Gas Extraction in Ontario includes oil extraction, natural gas extraction and exploration of crude oil and natural gas. Related terms covered in the Oil Drilling & Gas Extraction in Ontario industry report includes a deposit containing a mix of clay, sand and water that is saturated with dense and viscous petroleum, gases that consist primarily of methane but also include small amounts of heavier hydrocarbons such as propane and butane and structures located in the ocean that are designed to extract oil or gas from underneath the seabed.

Industry Performance of the Oil Drilling & Gas Extraction industry in Ontario

Benchmark the Oil Drilling & Gas Extraction in Ontario industry performance with all ON Census Metropolitan Area and national performance.

Oil Drilling & Gas Extraction in Ontario

#5 in Highest Revenue 3.3% of province's GDP
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

Oil Drilling & Gas Extraction in Canada


Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

For the full list of industry drivers, see report purchase options.

Key Drivers of the Oil Drilling & Gas Extraction industry in Ontario

See how key industry drivers, such as gross domestic product, private investment in non-residential construction, bachelorsed, world price of crude oil, world price of natural gas and us gross domestic product (gdp) are impacting Oil Drilling & Gas Extraction in Ontario

Ontario Economic Indicators

Gross Domestic Product
Private Investment in Non-Residential Construction
BachelorsEd

View more economic information in ON State Economic profile

Canada Key External Drivers

World price of crude oil
World price of natural gas
US Gross domestic product (GDP)

For the full list of industry drivers, see report purchase options.

Census Metropolitan Area Data of the Oil Drilling & Gas Extraction industry in Ontario

Access proprietary data on Census Metropolitan Area in the Oil Drilling & Gas Extraction in Ontario, such as Toronto, Chatham-Kent and Sarnia. Data includes figures on revenue, establishments, employees and wages by Census Metropolitan Areas.

Key Statistics of the Oil Drilling & Gas Extraction industry in Ontario

Download 18 years of historical data and 5 years of projected performance.

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Top Questions Answered in this Report

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What is the market size of the Oil Drilling & Gas Extraction industry in Ontario in 2025?

The market size of the Oil Drilling & Gas Extraction industry in Ontario is $5.1bn in 2025.

How many businesses are there in the Oil Drilling & Gas Extraction industry in Ontario in 2025?

There are 112 businesses in the Oil Drilling & Gas Extraction industry in Ontario, which has been declining at an average annual rate of -3.2% from 2020 to 2025.

Has the Oil Drilling & Gas Extraction industry in Ontario grown or declined over the past 5 years?

The market size of the Oil Drilling & Gas Extraction industry in Ontario has been growing at an average annual rate of 7.5% from 2020 to 2025.

How many employees in the Oil Drilling & Gas Extraction industry in Ontario in 2025?

There are 1,718 employees in the Oil Drilling & Gas Extraction industry in Ontario, which has been declining at an average annual rate of -0.2% from 2020 to 2025.