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Oil and Mineral Exploration Drilling in Australia: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Oil and Mineral Exploration Drilling Market Research Report | Specialist Engineering, Infrastructure & Contractors | Mining & Mining Services | Aug 2015

No gold mine: Decreased investment in the Mining division reduces demand for industry services

IBISWorld’s Oil and Mineral Exploration Drilling market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Ausdrill Ausdrill market share
Boart Longyear Boart Longyear market share
Industry Statistics & Market Size
Revenue
$721m
Annual Growth 11-16
-4.1%
Annual Growth 16-21
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Profit
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Employment
1,523
Businesses
542
Industry Analysis & Industry Trends

Over the past five years, the performance of the Oil and Mineral Exploration Drilling industry has been volatile. Industry players provide services to mining companies that are engaged in greenfield oil and mineral exploration. This is the riskiest area of the Mining division as companies look for new economically viable resource deposits. Expenditure on greenfield exploration fluctuates significantly year on year, in line with small miners' ability to access capital. When commodity prices fall or sentiment in the Mining division declines, demand for greenfield exploration services (such as specialist drilling activities) tends to decline.

Over the past 10 years, industry operators have benefited from a prolonged boom in capital expenditure in the Mining division... purchase to read more

Industry Report - Industry Analysis Chapter

Industry participants provide services to companies that explore untapped areas in the hope of finding economically viable resources, such as oil, gas and minerals. The industry plays a cyclical role in the Mining division as operators search for new resources and complete greenfield exploration projects. Exploration is cash-intensive and independent exploration companies rely on strong sentiment to gather the necessary capital to purchase exploration rights and services.

Demand for these risky activities fluctuates strongly, with increases in global commodity prices and strong capital investment supporting industry revenue growth. However, the industry typically declines strongly when investment is scaled back and major commodity prices fall... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Oil and Mineral Exploration Drilling Industry?

Companies in the industry provide exploratory drilling services for oil, gas and mineral exploration and mining firms. Mining companies contract exploration drilling companies to carry out exploratory drilling services for greenfield mining. Many companies also supply drilling services for brownfield projects, but these activities are excluded from the industry.

Industry Products
Reverse-circulation drillingAir-core drillingDiamond drillingHydraulic-rotary drillingOther exploration drillingRotary air-blast drilling
 
Industry Activities
Reverse-circulation drillingAir-core drillingDiamond drillingRotary air-blast drillingHydraulic-rotary drillingOther exploratory drilling services


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