Insight
Canada oil sands: navigating volatile WCS in Q3 2022
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Prices moderated in Q3 222 compared to the high marks seen in Q2. WCS discounts returned to the conversation. Despite the price changes, operators reported strong earnings and continued on the strategy to reduce debt and return value to shareholders through both dividends and share re-purchases. We also highlight Canada's new share buyback tax, Teck's exit from Fort Hills and several notable operating milestones.
Table of contents
- Executive summary
-
Benchmark crude prices
- WCS price performance
- Bitumen and SCO realisations
-
Production
- In situ production
- Commitment to shareholder returns continues
-
Other topics
- Fort Hills working interest sale
- TotalEnergies oil sands spinout
- Pathways cost revealed
- Corporate buybacks see new tax scrutiny
Tables and charts
This report includes the following images and tables:
- Benchmark prices
- Corporate cash distributions since 2020
- Benchmark price performance
- Historical WCS pricing
- Realised pricing
- In situ projects producing >40 kb/d
- In situ projects producing <40 kb/d
- Mining project production
- Percentage of operating costs from energy/fuel
What's included
This report contains:
Other reports you may be interested in
Insight
Canada upstream in brief
Our view on the key events as they unfold, covering oil sands, unconventional plays, western Canada, Arctic, and offshore East Coast.
$700
Asset Report
Long Lake
The Long Lake bitumen recovery and upgrading project is situated 40 kilometres southeast of Fort McMurray in the Athabasca oil sands ...
$3,720
Asset Report
Strathcona Energy Alberta
Strathcona Resources is a publically-traded company controlled by the Waterous Energy Fund. The company is Canada's largest private ...
$3,720
