Insight
Canada's Oil Sands: highlights from Q4 2014 results
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Report summary
The headline story from this quarter is the impact of low oil prices. Western Canada Select (WCS) saw an unprecedented drop from a monthly average of US$78/bbl in September to US$43/bbl in December. The value of upgraded synthetic crude oil (SCO) slipped down 22% over the quarter. New project start-ups at Husky and BP's Sunrise, Nexen's Kinosis, and Imperial Oil's Cold Lake Nabiye projects will continue to drive further production increases in 2015 as volumes ramp up.
Table of contents
- Executive summary
- Prices plummet
- Reduced capital spend and project delays
- Several first production milestones achieved
-
Leveraged juniors struggle to keep their heads above water
- Oil sands welcome cost deflation
-
Production
- Kearl mine emerges from downtime
- In situ production grows 9%
- Other notable events
- Economic assumptions
Tables and charts
This report includes 6 images and tables including:
- Canada's Oil Sands: highlights from Q4 2014 results: Image 1
- Reported price realisations
- Canada's Oil Sands: highlights from Q4 2014 results: Image 3
- Mining production flat on aggregate at 883,000 b/d in Q4
- Canada's Oil Sands: highlights from Q4 2014 results: Image 5
- Canada's Oil Sands: highlights from Q4 2014 results: Image 6
What's included
This report contains:
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