Media

Canada’s oil and gas industry is an integral part of the Canadian economy, and life in the west in particular. Oil and gas receives the largest share of private sector investment in Canada, and the industry makes up 20% of the Toronto Stock Exchange.

One barrel of oil can be used for an incredibly versatile array of products, and as such, it remains in high demand even as the world searches for alternatives.

Drilling and service rig contractors are a vital part of the oil and gas industry around the world. Our people and equipment are the world’s best, and CAOEC represents Canadian drilling and well servicing rigs wherever they are operating.

CAOEC's members range from large publicly traded companies, to small one or two rig operations in rural communities from coast to coast to coast. These businesses are often the lifeblood of the communities in which they operate, and their success directly affects the success and livelihood of thousands of Canadian families. As such, CAOEC is involved in all aspects of the industry that impact our members, from market access, to government policy, to standards and regulations.

Each working drilling rig means 175 direct and indirect jobs for Canadians across all industries, from manufacturing, to hospitality, to apparel, to financial services. Because our industry impacts the lives of Canadians in such a meaningful way, CAOEC’s annual drilling forecast is used as a barometer for industry activity, and all of its economic implications.

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