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8 Pages

Canada's Oil Sands: highlights from Q2 2016 results

Canada's Oil Sands: highlights from Q2 2016 results

Report summary

A recovery in global oil prices provided a welcome respite for oil sands producers as benchmark WTI oil prices climbed out of the Q1 2016 doldrums. Further operating cost cuts combined with more favourable bitumen realisations lessened the gloom around the industry after a challenging Q1 2016. Along with increasing WTI prices, both WCS and bitumen discounts stayed relatively constant in absolute terms with some players reporting positive netbacks in this low oil price environment. The Canadian dollar also recovered slightly in Q2 with the rise of global oil prices. The full impact of the Fort McMurray wildfire was on display in Q2 results, with the majority of mining producers reporting large production cuts due to the fire. Some in situ producers also suffered from shut in production.

What's included?

This report includes 2 file(s)

  • Canada's Oil Sands: highlights from Q2 2016 results PDF - 375.92 KB 8 Pages, 0 Tables, 9 Figures
  • Canada's Oil Sands highlights from Q2 2016.xls XLS - 551.00 KB


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  • Executive summary
  • Benchmark oil prices and bitumen realisations
    • Realised prices in Cdn$/bbl
  • In situ production
  • Mining production
    • Mining production
  • Operating costs
    • Quarterly operating costs for reporting projects
  • Significant events
    • Wildfire fallout
    • Continued problems at Long Lake
    • New tailings regulations
    • Suncor issues Cdn$2.5 billion in equity
    • Devon sells its 50% stake in the Access Pipeline
    • Husky divests select midstream assets
    • Enbridge and Marathon team up in North Dakota

In this report there are 9 tables or charts, including:

  • Executive summary
  • Benchmark oil prices and bitumen realisations
    • Benchmark prices vs. bitumen realisations
    • Bitumen discount relative to benchmark prices
    • Canada's Oil Sands: highlights from Q2 2016 results: Image 3
    • Canada's Oil Sands: highlights from Q2 2016 results: Image 4
  • In situ production
    • In situ projects producing >30,000 b/d
    • In situ projects producing <30,000 b/d
  • Mining production
    • Canada's Oil Sands: highlights from Q2 2016 results: Image 7
  • Operating costs
    • Canada's Oil Sands: highlights from Q2 2016 results: Image 8
  • Significant events
    • Estimated wildfire revenue loss in Cdn$ millions
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