In the five years through 2014-15, the Oil and Mineral Exploration Drilling industry has followed a volatile growth path. The industry provides services for mining companies engaged in greenfield oil and mineral exploration. This is the riskiest area of the Mining division, where companies are engaged in looking for new and economically viable deposits of resources. Expenditure on greenfield exploration fluctuates significantly year on year in line with small miners' ability to access capital. When commodity prices fall or sentiment around the Mining division declines demand for greenfield exploration services rapidly adjusts.
This industry includes firms primarily engaged in test drilling, boring and core sampling for exploratory purposes in mining, oil and gas operations. Exploration drilling companies are contracted by mining companies to carry out exploratory drilling for greenfield (new) projects. Many companies also supply drilling services for brownfield (established) projects, which is beyond the scope of this report.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.