Insight
Canada's Oil Sands: highlights from Q2 2016 results
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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.
Table of contents
- Executive summary
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Benchmark oil prices and bitumen realisations
- Realised prices in Cdn$/bbl
- In situ production
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Mining production
- Mining production
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Operating costs
- Quarterly operating costs for reporting projects
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Significant events
- Wildfire fallout
- Continued problems at Long Lake
- New tailings regulations
- Suncor issues Cdn$2.5 billion in equity
- Devon sells its 50% stake in the Access Pipeline
- Husky divests select midstream assets
- Enbridge and Marathon team up in North Dakota
Tables and charts
This report includes the following images and tables:
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Benchmark prices vs. bitumen realisationsBitumen discount relative to benchmark pricesIn situ projects producing >30,000 b/d
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In situ projects producing <30,000 b/dCanada's Oil Sands: highlights from Q2 2016 results: Image 3Canada's Oil Sands: highlights from Q2 2016 results: Image 4Canada's Oil Sands: highlights from Q2 2016 results: Image 7Canada's Oil Sands: highlights from Q2 2016 results: Image 8Estimated wildfire revenue loss in Cdn$ millions
What's included
This report contains:
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