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Canada's Oil Sands: highlights from Q3 2015 results


Canada's Oil Sands: highlights from Q3 2015 results

Report summary

The oil sands have faced a challenging and fluid environment this quarter. Crumbling prices were only the start of the industries' worries. A fresh Keystone XL rejection shrouded in the rhetoric of environmental conservatism reminded us of the difficulties in gaining market access for Canada's stranded resources. That was cited as one of the reasons that integrated major Shell decided to pull the plug on its 80,000-b/d Carmon Creek in situ oil sands project. A new Liberal majority government in the House of Commons ushered in a second wave of political change for Alberta. Despite a brief rally in Q2, benchmark and Western Canada Select (WCS) crude prices continued to slide in Q3 with WCS reaching a fresh six and half year low on 14 August at Cdn$23.41/bbl.

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This report includes 2 file(s)

  • Canada's Oil Sands: highlights from Q3 2015 results PDF - 386.89 KB 9 Pages, 1 Tables, 10 Figures
  • Canada's Oil Sands highlights from Q3 2015 results.xls XLS - 517.00 KB

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

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  • Executive summary
  • WCS hits new six year low
    • Mining production surges on heels of planned downtime
    • In situ production increases 14%
  • Keystone XL: The sour taste of rejection
  • Cost decreases continue
    • Capital expenditures
    • Operating costs continue their downward slide
  • A Trudeau for a new generation: Liberal government in Canada
  • Other notable events
  • Appendix I
  • Appendix II

In this report there are 11 tables or charts, including:

  • Executive summary
  • WCS hits new six year low
    • Benchmark prices through mid-October
    • Historical WCS price (2009-2015)
    • Reported price realisations to WTI
    • Mining production
    • In situ projects producing >30,000 b/d
    • In situ projects producing <30,000 b/d
  • Keystone XL: The sour taste of rejection
  • Cost decreases continue
    • Capital costs for selected projects
    • Canada's Oil Sands: highlights from Q3 2015 results: Image 8
    • Canada's Oil Sands: highlights from Q3 2015 results: Image 9
  • A Trudeau for a new generation: Liberal government in Canada
  • Other notable events
  • Appendix I
    • Canada's Oil Sands: highlights from Q3 2015 results: Image 10
  • Appendix II
    • Canada's Oil Sands: highlights from Q3 2015 results: Table 1
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