Insight
Canada oil sands: M&A moves in Q3 2024
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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
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
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Benchmark crude prices
- Bitumen and SCO realisations
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Production
- Mining
- In Situ production
- Earnings and shareholder returns
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Other happenings
- Links to past quarters:
Tables and charts
This report includes the following images and tables:
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Benchmark pricesOperating costsRealised pricing
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Mining project productionIn situ projects producing >40 kb/dIn situ projects producing <40 kb/dReported net earningsCorporate cash distribution since 2021
What's included
This report contains:
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