Adapting To A Lower-For-Longer Commodity Market

It's no secret that falling oil prices have resulted in millions of dollars of lost revenue, the cancellation of major projects and significant job loss—both among oil and gas producers and service and supply companies. On the flip side, many companies that took steps to shore up their balance sheets before the slowdown are now better positioned to capitalize on the opportunities that a downturn presents.

To understand how the global commodity market downturn is playing out in Canada, research firm Junewarren-Nickles Energy Group (JWN), in partnership with Grant Thornton, conducted a detailed review of the oilfield service and supply market. In addition to surveying 545 service sector leaders in companies with revenues primarily between $5 million and $100 million, we completed a series of in-depth interviews and workshops to understand how the sector plans to survive and thrive in a protracted low-price commodity environment.