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Canada's Oil Sands: highlights from Q3 2015 results

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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.

What's included

This report contains

  • Document

    Canada's Oil Sands: highlights from Q3 2015 results

    PDF 386.89 KB

Table of contents

  • Executive summary
    • Mining production surges on heels of planned downtime
    • In situ production increases 14%
  • Keystone XL: The sour taste of rejection
    • 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

Tables and charts

This report includes 11 images and tables including:

Tables

  • Canada's Oil Sands: highlights from Q3 2015 results: Table 1

Images

  • Benchmark prices through mid-October
  • Historical WCS price (2009-2015)
  • Reported price realisations to WTI
  • Canada's Oil Sands: highlights from Q3 2015 results: Image 10
  • Mining production
  • In situ projects producing >30,000 b/d
  • In situ projects producing <30,000 b/d
  • 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

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