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6 Pages

Canada's Oil Sands: Highlights from Q4 2013 results

Canada's Oil Sands: Highlights from Q4 2013 results

Report summary

Operational reliability improved across the oil sands sector in the last quarter of 2013. Each of the five mining projects achieved the highest quarterly production rates of the year. In situ production also fared well on aggregate, with quarter-on-quarter gains at Christina Lake and MEG Christina Lake offsetting reductions at Primrose. However, production gains did not translate directly to increased profits, as price realisations fell sharply for both bitumen and upgraded synthetic crude.

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  • Canada's Oil Sands: Highlights from Q4 2013 results PDF - 586.54 KB 6 Pages, 0 Tables, 6 Figures
  • Canada's Oil Sands Highlights from Q4 2013 results.xls XLS - 328.50 KB


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  • Price reductions impact both bitumen and synthetic crude producers
  • In situ production
    • Ramp up from new phases and projects
    • Operational issues impact projects
    • Operators pursue attractive economics of brownfield expansions
  • Mining production
    • Enbridge Line 3 Replacement may be at an advantage
    • Rail terminal build out provides additional opportunities
    • Diluent recovery investments to ease exposure to Alberta condensate premium
  • Economic assumptions

In this report there are 6 tables or charts, including:

  • Price reductions impact both bitumen and synthetic crude producers
    • Bitumen prices and average WTI differential
    • Synthetic crude differentials to WTI
  • In situ production
    • In situ quarterly production
  • Mining production
    • Mining quarterly production
    • Indicative Q4 2013 pricing: piped bitumen to PADD II
    • Indicative Q4 2013 pricing: railed bitumen to USGC
  • Economic assumptions
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