Canada's Oil Sands: business as usual in Q2 2017

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Report summary

Oil sands production often decreases in the second quarter for planned maintenance work and this year saw that trend continue for both in situ and mining projects. Several projects bucked the trend and increased output. Lower global oil prices were offset by a narrow WCS differential and producers continue to keep operating costs near all time lows. The major deals of Q1 2017 closed during the second quarter and integration is off to a positive start. Cenovus continued ramp up at Christina Lake and successfully completed a turnaround at Foster Creek on time and on budget. At the Athabasca Oil Sands Project, Canadian Natural Resources reported an exit rate above plant capacity and historically low operating costs.

What's included

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    Canada's Oil Sands Q2 2017.xlsx

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Table of contents

  • Executive summary
  • Benchmark oil prices and bitumen realisations
  • In situ production
  • Mining production
  • Operating costs
  • Market performance compared to US Permian focused firms
    • A new era begins in the oil sands
    • Capex adjustments
    • A WCS renaissance?
    • Total disputes Fort Hillscosts

Tables and charts

This report includes 9 images and tables including:


  • Benchmark price performance
  • Historical WCS prices
  • Realised prices in Cdn$/bbl
  • In situ projects producing >40,000 b/d
  • In situ projects producing <40,000 b/d
  • Mining project production
  • Mining operating costs
  • In situ operating costs
  • Comparison of share price performance

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