Insight
2024 upstream Canada's guidance review
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Report summary
Twenty-six Canadian headquartered unconventional and oil sands operators announced 2024 capital and production guidance over the last quarter. Production and capital spending is up a modest 3% on average after factoring out significant 2023 M&A activity. This report provides a comprehensive analysis of our latest assessment of capital and production guidance with breakdowns of spend by oil sands versus unconventionals and investigates high level trends in capital intensity and capital efficiency.
Table of contents
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Executive summary
- 26 large and midsize Canadian upstream producers have reported 2024 capital and production budget guidance.
- WCSB conventional and unconventional operators in the Montney, Duvernay, Deep Basin and Clearwater
- Oil sands capital spend will exceed $13 billion in 2024
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