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
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Benchmark crude prices
- WCS price performance
- Bitumen and SCO realisations
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Production
- In situ production
- Commitment to shareholder returns continues
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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:
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Benchmark pricesCorporate cash distributions since 2020Benchmark price performance
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Historical WCS pricingRealised pricingIn situ projects producing >40 kb/dIn situ projects producing <40 kb/dMining project productionPercentage of operating costs from energy/fuel
What's included
This report contains:
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