Insight
Canada oil sands: profits abound in Q1 2021
Report summary
Q1 sees another record level oil sands production result, with strong growth this quarter coming from in situ projects. With curtailment lifted, projects are ramping up. Rail movements remain muted and will not increase in Q2 as planned mining maintenance lowers supply. Prices improved on the quarter too, which led to positive earnings announcements for the large oil sands players. Five companies posted net earnings of nearly Cdn$2.8 billion for Q1. Operating costs have remained stable through 2020 and now early 2021 as companies look to lock in the progress made in reducing costs.
Table of contents
- Executive summary
-
Benchmark crude prices
- WCS price performance
- Bitumen and SCO realisations
- In situ production
- Mining production
-
Other topics
- Crude-by-rail
- Operating costs
- Earnings make a positive statement
- Changes to mining security payments
Tables and charts
This report includes 10 images and tables including:
- Benchmark prices
- In situ projects producing >40 kb/d
- In situ projects producing <40 kb/d
- Mining project production
- Benchmark price performance
- Historical WCS pricing
- Realised pricing
- Crude by rail
- Reported operating costs per barrel
- Corporate net earnings for select oil sands companies
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.
$5,750
Insight
Canada oil sands: carrying momentum through Q4 2023
Canadian oil sands producers continued its streak of high operational performance in Q4 2023 despite weaker price realisations
$1,350
Asset Report
Hangingstone
The Hangingstone development is located in the Athabasca oil sands region of Alberta, 50 kilometres southwest of Fort McMurray. Japan ...
$3,100