Canada oil sands: earnings steady in Q2 2021

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09 August 2021

Canada oil sands: earnings steady in Q2 2021

Report summary

Q2 production held steady, with decreases due to planned maintenance. Rail remained muted in the quarter, as differentials tightened compared to Q1. Prices improved, which led to positive earnings announcements for the large oil sands players. Five companies posted net earnings of nearly Cdn$3.1 billion for Q2. Strong results have allowed debt to be paid down and companies continue to strengthen balance sheets and focus on shareholder returns.

Table of contents

  • Executive summary
  • Benchmark crude prices
  • WCS price performance
  • Bitumen and SCO realisations
  • In situ production
  • Mining production
    • Crude-by-rail
    • Earnings help to drive down debt
    • Oil sands Pathways to Net Zero
    • JACOS Hangingstone acquired
    • Restarted small-scale projects

Tables and charts

This report includes 9 images and tables including:

  • Benchmark prices
  • Benchmark price performance
  • Historical WCS pricing
  • Realised pricing
  • In situ projects producing >40kbd
  • In situ projects producing <40kbd
  • Mining project production
  • Crude-by-rail
  • Debt changes

What's included

This report contains:

  • Document

    Canada's Oil Sands Q2 2021.xlsx

    XLSX 493.25 KB

  • Document

    Canada oil sands: earnings steady in Q2 2021

    PDF 1.18 MB