If you’ve been watching Calgary’s job market with a close eye—and let’s be honest, if you’re reading this, you probably have—you’ve likely noticed something stirring beneath the surface. The oilfield services sector, that reliable pulse of Alberta’s energy economy, is showing signs of life we haven’t seen in a while. And for finance and accounting professionals, that means opportunity knocking louder than it has in years.
Here at BullsEye Recruitment, we talk to CPAs and finance leaders across Calgary every single day. Lately, the conversations have shifted. The question isn’t if the energy services sector is picking up—it’s how fast and what does it mean for my career or my team? Let’s break it down, YYC-style.
The Numbers Don’t Lie: Activity Is Up
Let’s start with the hard data. The Canadian Association of Energy Contractors (CAOEC) released its 2025 State of the Industry Report and 2026 Forecast, projecting 5,709 wells drilled in 2026—an increase of 161 wells (2.9%) from 2025. Drilling rig operating days are expected to hit 59,943, up 1,687 days (2.9%) year-over-year. Service rig operating hours? Projected at 1,037,301, a jump of 32,260 hours (3.2%) from last year.
Now, those numbers might not sound explosive, and they’re not supposed to be. As CAOEC itself describes it, this is “steady rather than explosive growth”. But here’s the thing: steady growth in activity creates a ripple effect that touches everything—including the finance teams that support these operations.
The Ripple Effect: Jobs, Jobs, and More Jobs
Here’s where it gets really interesting for finance professionals. According to CAOEC’s employment impact assessment, each active drilling rig supports 21 direct and 226 indirect jobs. Each working service rig supports six direct and 64 indirect jobs. Combined, that’s a workforce of about 85,000 well-paid, highly skilled positions tied to drilling and service rig activity in 2026.
Mark Scholz, President & CEO of CAOEC, put it this way: “Our industry represents paycheques for roofs over heads, hockey sticks in young hands, and dreams realized in communities across Western Canada”. That’s not just rhetoric—it’s a reflection of the economic engine that powers so much of what happens in this city.
What This Means for Finance Talent
So, where do finance professionals fit into this picture? Right in the middle of it.
The ATB Cormark Capital Markets Spring 2026 Energy Sector Survey paints a compelling picture: 75% of energy services respondents expect higher customer activity in 2026, with margins projected to improve over the next six months for the first time since fall 2023. The survey also found that 95% of E&P companies expect production growth over the next 12 months, with both oil- and gas-weighted producers targeting roughly 6% production growth.
What does that mean in practical terms? More activity means more projects. More projects mean more contracts. More contracts mean more billing, more cost tracking, more project accounting, more financial reporting, and more complexity. And all of that requires experienced finance professionals who understand the unique rhythm of the oilfield services industry.
We’re already seeing the evidence. A quick scan of Calgary’s job boards shows active postings for Financial Controllers with oilfield services experience, Production Accountants, Operations Accountants, Project Accountants, and Finance Analysts. CPA Alberta’s job board recently featured a Financial Accountant role specifically requiring “experience in the oilfield services sector”. These aren’t theoretical positions—they’re real jobs that need filling right now.
The CPA Supply Crunch: A Perfect Storm
Here’s where it gets even more interesting—and a bit challenging for employers. Alberta is facing a well-documented CPA shortage. A landmark CPA Alberta / BDO “Five-Year Labour Market Study” projects Alberta will need approximately 1,000 new CPAs annually over the next three to five years just to keep pace with retirements, population growth, and evolving business demands. Add to that a nationwide decline in CPA enrollments, and you’ve got a supply crunch that’s putting pressure on every sector—including oilfield services.
The Job Bank of Canada rates the employment outlook for financial auditors and accountants (NOC 11100) in the Calgary region as “Moderate” for the 2025–2027 period. But “moderate” doesn’t mean “easy.” For employers in the oilfield services sector, finding finance talent with the right combination of technical accounting skills and industry-specific knowledge is becoming increasingly difficult.
What Employers Need to Know
If you’re a finance leader or business owner in the oilfield services sector, here’s the bottom line: the competition for top finance talent is real, and it’s heating up.
The professionals you want—CPAs with 15–20 years of progressive experience, solid knowledge of oilfield services accounting, project and time billing practices, and familiarity with both Canadian and U.S. operations—are already employed. They’re not scrolling through job boards hoping to find something. They need to be recruited proactively, engaged thoughtfully, and offered compelling reasons to make a move.
Robert Half’s 2026 Salary Guide projects average pay increases of 3.7% for public accounting roles, higher than the 2.1% average across other finance and accounting positions. In the oilfield services sector specifically, salary ranges for senior finance roles are reflecting that premium. We’re seeing Controller roles in the $130K–$160K rangeand Director-level positions reaching $150K–$180K.
But here’s the thing: it’s not just about money. The finance professionals we talk to are looking for stability, growth potential, and the opportunity to make a real impact. They want to work with leadership teams that understand the value of strong financial stewardship. They want to be more than just number-crunchers—they want to be strategic partners.
What Candidates Need to Know
For finance and accounting professionals eyeing the oilfield services sector, the message is equally clear: your skills are in demand, and you have options.
If you have oilfield services experience—or even if you don’t, but you’re willing to learn—there are opportunities out there. The sector is hungry for CPAs who understand the nuances of project accounting, cost tracking, joint venture accounting, and the regulatory environment that shapes the energy industry.
But don’t just take any job. Be strategic. Look for organizations that are well-positioned for growth, have strong leadership teams, and offer clear paths for professional development. The companies that are investing in their finance functions now are the ones that will thrive in the years ahead.
The M&A Angle: More Complexity, More Opportunity
It’s worth noting that the oilfield services sector isn’t just seeing operational growth—it’s also experiencing a wave of M&A activity. Canadian energy M&A recorded its busiest year in eight years in 2025, with total deal value reaching C$48 billion, more than four times the volume of the prior year. That momentum has carried into 2026.
Recent transactions include Benzen Holdings’ acquisition of Calgary-based Sigma Explorations Inc., RWT Capital’s sale of H2Oil Energy to GFL Environmental, and ongoing consolidation across the mid-market energy services sector. As Reece Tomlinson, Founder and CEO of RWT Capital, put it: “The megadeals have gotten the attention, but the mid-market is where the real activity is happening right now”.
For finance professionals, this M&A activity means more complexity, more due diligence, more integration work, and more opportunities to add value. If you’re a CPA with experience in M&A, financial due diligence, or post-merger integration, your skills are more valuable than ever.
The Outlook: What’s Next?
So, where is all of this heading? The data suggests a cautiously optimistic outlook. ATB Financial projects Alberta’s real GDP will grow by 2.6% in 2026, well above the national average of just 0.8%. Calgary itself is forecast for resilient growth of 2.4% in 2026.
The energy sector is entering 2026 with “stronger underlying momentum,” according to ATB Cormark’s analysis, with expectations for higher field activity, broad-based production growth, and improving energy services pricing and margins. And while risks remain—federal energy policy continues to rank as the sector’s top concern for the eighth consecutive survey—the overall direction is upward.
Oilfield services are hiring again, and that’s good news for everyone—employers, candidates, and the Calgary economy as a whole. For employers, it means taking a strategic approach to talent acquisition, recognizing that the competition for top finance professionals is fierce, and being willing to invest in the people who will drive your financial success. For candidates, it means having options, being strategic about your career moves, and positioning yourself to capitalize on the opportunities that this sector offers.
At BullsEye Recruitment, we’ve been watching this market closely, and we’re excited about what we’re seeing. The oilfield services sector is coming back to life, and finance professionals are right at the heart of it.
Ready to make your next move? Whether you’re an employer looking to build a best-in-class finance team or a CPA seeking your next leadership opportunity in Calgary’s oilfield services sector, BullsEye Recruitment is here to help. We know this market inside and out—and we’d love to help you navigate it.
Contact us today to start the conversation.
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