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Canada's Oil Sands: highlights from Q2 2016 results

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08 August 2016

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.

Table of contents

Tables and charts

This report includes 9 images and tables including:

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

What's included

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