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

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03 August 2017

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

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.

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 10 images and tables including:

  • Benchmark Pricing
  • 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

What's included

This report contains:

  • Document

    Canada's Oil Sands Q2 2017.xlsx

    XLSX 280.14 KB

  • Document

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

    PDF 552.30 KB

  • Document

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

    ZIP 763.90 KB

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