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Canada's Oil Sands: highlights from Q2 2015 results

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11 August 2015

Canada's Oil Sands: highlights from Q2 2015 results

Report summary

The oil sands industry remained in the news during Q2 2015 – not much of which was positive. Forest fire shut-ins and planned maintenance turnarounds lowered production from the Q1 peak. A pipeline leak at Nexen's Long Lake project is being cleaned up and investigated by the Alberta Energy Regulator. Benchmark and Western Canada Select (WCS) crude prices, while improved in Q2 versus Q1, again showed weakness in July and early August.

Table of contents

  • Executive summary
  • Prices improve in Q2 before sliding in July
    • Mining production sees three projects enter and exit planned downtime
    • In situ production declines 7%
      • Forest fires
      • Cost decreases are becoming visible
        • Capital expenditures
        • Scrutiny on operating costs has delivered noticeable results for SAGD projects
      • Regulatory changes afoot
      • Other notable events

Tables and charts

This report includes 9 images and tables including:

  • Benchmark prices through early-August
  • Historical WCS price (2009-2015)
  • Reported price realisations to WTI
  • Canada's Oil Sands: highlights from Q2 2015 results: Image 4
  • In situ projects producing >30,000 b/d
  • In situ projects producing <30,000 b/d
  • Capital costs for selected projects
  • SAGD projects
  • Mining projects

What's included

This report contains:

  • Document

    Canada's Oil Sands: highlights from Q2 2015 results

    PDF 360.44 KB

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