Insight

Canada's Oil Sands: enduring the worst of the storm in Q4 2018

Get this report

$1,350

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- FAQ's about online orders
- Find out more about subscriptions

08 March 2019

Canada's Oil Sands: enduring the worst of the storm in Q4 2018

Report summary

Q4 2018 was a tough time to be an oil sands producers. Western Canadian Select (WCS) prices hit record monthly lows in November and December. The Alberta government intervened to address the low prices and mandated a production curtailment for 2019. Although prices were depressed, the oil sands reached record production during Q4, led by strong growth from mining projects. Oil sands producers were dealt an additional blow in March 2019 when Enbridge announced its Line 3 pipeline project in-service date would be delayed from Q4 2019 to H2 2020.

Table of contents

  • Executive summary
  • Benchmark crude prices
  • WCS prices
  • Bitumen and SCO realisations
  • In situ production
    • Mining production
    • Operating costs
    • Crude by rail
    • Other significant events
    • Enbridge Line 3 replacement project delayed
    • NEB approves Trans Mountain expansion pipeline, again
    • Aspen FID – Imperial Oil
    • Husky abandons hostile bid for MEG Energy
    • Devon looks to exit Canada
    • Pengrowth begins strategic review
    • Connacher sale to East River falls through
    • Creative financing

Tables and charts

This report includes 12 images and tables including:

  • Benchmark pricing
  • Benchmark price performance
  • Historic WCS prices
  • Realised bitumen prices
  • In situ projects producing >35 kb/d
  • In situ projects producing <35 kb/d
  • Curtailment - In situ projects producing > 30 kb/d
  • Curtailment - In situ projects producing < 30 kb/d
  • Mining project production
  • Mining & upgrading operating costs
  • In Situ operating costs
  • Crude by rail

What's included

This report contains:

  • Document

    Canada's Oil Sands Q4 2018.xlsx

    XLSX 357.76 KB

  • Document

    Canada's Oil Sands: enduring the worst of the storm in Q4 2018

    ZIP 1.12 MB

  • Document

    Canada's Oil Sands: enduring the worst of the storm in Q4 2018

    ZIP 1.12 MB

Trusted by leading organisations