Insight
Canada oil sands: Q1 2022 net earnings top nine billion
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The first quarter of 2022 was dominated by macro events. Russia’s invasion of Ukraine has caused global supply chain disruptions, impacted energy security in Europe and sent global benchmark prices spiralling upward. Oil Sands producers are feeling the impact both in terms of growing sales revenues and increased energy costs. While oil sands production fell over 150,000 b/d, companies experienced record quarter earnings with focus remaining on returning value to shareholders through debt pay-down, share re-purchases and increased dividends.
Table of contents
- Executive summary
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Benchmark crude prices
- WCS price performance
- Bitumen and SCO realisations
- In situ production
- Mining production
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Other topics
- Commitment to shareholder returns continues
- Operating costs grow
- Oil sands net zero pathways
- Elliott takes activist investor position in Suncor
- Suncor Base Mine Extension faces an uphill regulatory approval process
- Long Lake's upgrader rises from the grave
Tables and charts
This report includes the following images and tables:
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Benchmark pricesIn situ projects producing >40kbd
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In situ projects producing <40kbdMining project productionBenchmark price performanceHistorical WCS pricingRealised pricingPercentage of operating costs coming from energy/fuel
What's included
This report contains:
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