Growing requirements for industrial chemistry to improve natural gas and oil pipeline flows and drilling results lifted second quarter results for CES Energy Solutions Corp., a barometer of activity in Canada and the United States.

The Calgary-based company said “the recovery in global energy demand, combined with several years of lower investment in the upstream oil and gas sector, have resulted in a balanced market for oil and natural gas, higher commodity prices and a supportive outlook for the sector in CES’ North American target market.

“We expect current activity levels to continue through 2023, moderated by potential challenges with availability of labor and supply chain constraints. Further, broad economic concerns exist with respect to recession risk, interest rates...