The capital spending and revenue of oilfield service companies in Western Canadian will be steady over the next four years according to the Conference Board of Canada. The projected revenue and spending is for 2013, 2014, 2015, 2016, and 2017.
Spending saw the biggest change from 2011 to 2012 with an increase of 24 percent. Growth in 2013 will be more modest with 14.2 percent over last year’s figures. Although the percentage of increase over the next four years will taper off, the overall capital spending is projected as being healthy.
Oilfield service companies may experience moderate revenue growth in 2013, but the numbers are expected to rise and remain steady until at least 2017. The future looks brighter in 2014-2017 as the revenue growth will average at 8%, up from only 3.5% in 2013.
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