U.S. expansion beckons Canadian energy service companies but be wary of a steep learning
Canadian energy service companies that are considering expansion into the booming U.S. shale oil and gas basins need to fully appreciate the risks.
We showcase leaders of three energy service companies who have succeeded in the U.S. and have shared their insights for anyone wanting to follow in their footsteps.
The U.S. oil and gas market is likely to surpass Saudi Arabia and Russia to become the world’s top crude oil producer. This combined with the fact that the U.S. shares a common language and border makes it a very attractive market for many Canadian-based oil and gas service companies.
But the learning curve is also steep. Service companies that have succeeded in the U.S. stress that the U.S. is truly a foreign country with its own unique cultural and business norms. Canadian energy service companies can’t take the U.S. market for granted and should learn from the lessons of companies that have gone before them.
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