Insight
Canada oil sands: M&A moves in Q3 2024
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Wildfires and planned maintenance impacted Q3 in situ production. Utilisation at mining sites impressed, resulting in a new record level of mining production. Net earnings were strong despite price realisations slipping from the previous quarter. Operational performance targets are being met and shareholder returns are flowing. Suncor and MEG Energy achieved net debt targets and will now direct 100% of free cash flow to shareholder returns. CNRL added debt to deal with Chevron and increase its ownership in Athabasca Oil Sands Mine. But the company also added to its dividend. We highlight the pricing, production, operating cost and corporate trends across the oil sands sector.
Table of contents
- Executive summary
-
Benchmark crude prices
- Bitumen and SCO realisations
-
Production
- Mining
- In Situ production
- Earnings and shareholder returns
-
Other happenings
- Links to past quarters:
Tables and charts
This report includes 8 images and tables including:
- Benchmark prices
- Operating costs
- Realised pricing
- Mining project production
- In situ projects producing >40 kb/d
- In situ projects producing <40 kb/d
- Reported net earnings
- Corporate cash distribution since 2021
What's included
This report contains:
Other reports you may be interested in
Asset Report
Canada Oil Sands other fields (sub-commercial)
Summaries and project detail on 58 oil sands projects that we hold technical reserves for.
$6,900
Insight
2025 upstream Canada's guidance review
The outlook for 2025 upstream Canada production and capital guidance split between oil sands and unconventionals.
$1,350
Insight
Q3 WCSB: AECO crashing, operators holding steady
Gas realizations hold despite crashing gas prices. Liquids-focused gas operators continue to dominate. M&A saw heavy action.
$1,350
