Insight
Canada oil sands: further consolidation on weakening fundamentals in Q1 2023
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The first quarter saw continued decreases in commodity benchmarks while WCS differentials contracted. We address several topics facing oil sands operators and track the production performance of mining and in situ projects. What is driving contracting WCS differentials? What are operators doing with free cash flow? What progress industry is taking on addressing emissions reduction? Environmental incidents and impacts on projects?
Table of contents
- Executive summary
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Benchmark crude prices
- Bitumen and SCO realisations
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Production
- Mining production
- Kearl tailings seepage
- Fort Hills
- In situ production
- Earnings and shareholder returns
- Other topics
- Suncor acquisition of TotalEnergies' oil sands assets
- Pathways Alliance
Tables and charts
This report includes the following images and tables:
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Benchmark pricesBenchmark price performanceHistorical WCS differentials
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Realised pricingMining project productionIn situ projects producing >40 kb/dIn situ projects producing <40 kb/dReported net earningsCorporate cash distributions since 2020
What's included
This report contains:
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