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Oil and Mineral Exploration Drilling in Australia Industry Data and Analysis
Australia's planned transition from a nation that both uses and exports significant amounts of fossil fuels by way of coal and natural gas towards a powerhouse of critical mineral extraction and renewable energy production has created downstream effects for the Oil and Mineral Exploration Drilling industry. Exploration for natural gas, both onshore and offshore, has been falling as a share of revenue as exploration of minerals like cobalt, gold and copper has expanded. The industry's primary customers, mining companies, have been expanding their operations through acquisition more so than through the development of new sites, limiting their need for external drilling exploration services. Revenue sits at $494.1 million following an annualised 2.4% drop for the five years through 2024-25, including a 5.15 drop in 2024-25 alone. The industry experiences low profit margins as expenses from fuel, purchases and wages are significant a result of the remote and dangerous work that industry employees perform.
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What's included in this industry analysis
IBISWorld's research coverage on the Oil and Mineral Exploration Drilling industry in Australia includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released January 2025.
About this industry
What's this industry report about?
The Oil and Mineral Exploration Drilling industry in Australia operates under the ANZSIC industry code OD5427. Industry companies provide exploratory drilling services for oil, gas and mineral exploration and mining firms. Mining companies contract exploration drilling companies to carry out these services for greenfield mining. Many industry firms also supply drilling services for brownfield projects, but these activities are excluded from the industry. Related terms covered in the Oil and Mineral Exploration Drilling industry in Australia include measurement-while-drilling, drill bit, greenfield, brownfield and reserve.
What's included in this industry?
Products and services covered in Oil and Mineral Exploration Drilling industry in Australia include Reverse-circulation drilling, Air-core drilling and Diamond drilling.
What companies are included in this industry?
Companies covered in the Oil and Mineral Exploration Drilling industry in Australia include Perenti Global and Boart Longyear.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Oil and Mineral Exploration Drilling industry in Australia.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Oil and Mineral Exploration Drilling industry in Australia.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Oil and Mineral Exploration Drilling industry in Australia.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Oil and Mineral Exploration Drilling industry in Australia. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Oil and Mineral Exploration Drilling industry in Australia. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Oil and Mineral Exploration Drilling industry in Australia. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Oil and Mineral Exploration Drilling industry in Australia. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Oil and Mineral Exploration Drilling industry in Australia.
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Frequently Asked Questions
What is the market size of the Oil and Mineral Exploration Drilling industry in Australia in 2026?
The market size of the Oil and Mineral Exploration Drilling industry in Australia is $494.1m in 2026.
How many businesses are there in the Oil and Mineral Exploration Drilling industry in Australia in 2025?
There are 560 businesses in the Oil and Mineral Exploration Drilling industry in Australia, which has declined at a CAGR of 0.6 % between 2020 and 2025.
How may import tariffs affect the Oil and Mineral Exploration Drilling industry in Australia?
The Oil and Mineral Exploration Drilling industry in Australia is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Oil and Mineral Exploration Drilling industry in Australia?
The Oil and Mineral Exploration Drilling industry in Australia is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Oil and Mineral Exploration Drilling industry in Australia grown or declined over the past 5 years?
The market size of the Oil and Mineral Exploration Drilling industry in Australia has been declining at a CAGR of 2.4 % between 2020 and 2025.
What is the forecast growth of the Oil and Mineral Exploration Drilling industry in Australia over the next 5 years?
Over the next five years, the Oil and Mineral Exploration Drilling industry in Australia is expected to grow.
What are the biggest companies in the Oil and Mineral Exploration Drilling industry in Australia?
The biggest companies operating in the Oil and Mineral Exploration Drilling industry in Australia are Perenti Global and Boart Longyear
What does the Oil and Mineral Exploration Drilling industry in Australia include?
Reverse-circulation drilling and Air-core drilling are part of the Oil and Mineral Exploration Drilling industry in Australia.
Which companies have the highest market share in the Oil and Mineral Exploration Drilling industry in Australia?
The company holding the most market share in the Oil and Mineral Exploration Drilling industry in Australia is Perenti Global.
How competitive is the Oil and Mineral Exploration Drilling industry in Australia?
The level of competition is moderate and steady in the Oil and Mineral Exploration Drilling industry in Australia.
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