Canadian Energy Services Sector Sees Shifting Dynamics, Enserva’s 2025–2026 Report Finds
Enserva forecasts a 5.6% capital spending drop in 2025 and 2.2% in 2026 amid low prices; LNG export growth offers medium-term recovery prospects.
- Yesterday, Enserva released its 2025-2026 State of the Industry Report from Calgary, framing evolving global market dynamics and emerging opportunities for Canada's upstream energy sector.
- Lower oil prices and recent OPEC production increases are tempering near-term investment and drilling, while U.S. trade policies and the CUSMA review in 2026 threaten Canada's export competitiveness.
- The report projects a 5.6 per cent decline in upstream capital spending in 2025 and a nine per cent decrease in total wells drilled this year, with British Columbia down 16 per cent.
- Service-Sector employment now faces decline through late 2025 and flat growth over 2026 as large operators cut staff, while producers who shut in natural gas after the September price plunge may see investment rise post-mid-2026 with LNG Canada and other LNG projects ramping up.
- Enserva's members see market access, policy stability and infrastructure development shaping Canada's global energy competitiveness as 'Next years outlook shows both challenges and clear opportunities', Lail added.
17 Articles
17 Articles
Energy service group predicts lower industry spending, but sees reason for optimism
CALGARY -- An oil and gas service industry group predicts lacklustre prices for those resources will weigh on spending and activity next year, but the prospect of new export infrastructure gives reason for optimism ahead.
Energy service group predicts lower industry spending, but sees reason for optimism
CALGARY — An oil and gas service industry group predicts lacklustre prices for those resources will weigh on spending and activity next year, but the prospect of new export infrastructure gives reason for optimism ahead.
A group in the oil and gas services sector predicts that the dizzying prices of these resources will put pressure on spending and activity next year, but the prospect of new export infrastructures gives reason to be optimistic for the future.
Energy service group predicts lower industry spending but B.C. drilling to partly rebound next year – Energeticcity.ca
Pumpjacks draw out oil and gas on a frosty -25C day from wells head near Carstairs on Monday, February 3rd, 2025. (THE CANADIAN PRESS/Jeff McIntosh) CALGARY, ALTA — An oil and gas service industry group predicts lacklustre prices for those resources will weigh on spending and activity next year, but the prospect of new export infrastructure gives reason for optimism ahead. Enserva says in its annual State of the Industry report that total oil an…
Energy service group predicts lower industry spending, but sees reason for optimism
CALGARY — An oil and gas service industry group predicts lacklustre prices for those resources will weigh on spending and activity next year, but the prospect of new export infrastructure gives reason for optimism ahead.
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