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8 Pages

Canada's Oil Sands: highlights from Q4 2015 results


Canada's Oil Sands: highlights from Q4 2015 results

Report summary

The oil sands industry showcased its resiliency in Q4 2015, but the biggest challenge to date will be Q1 2016. Oil sands operators continue to cut operating costs while getting a helping hand from depressed natural gas prices. Producers posted positive operating margins in Q4 2015 and as long as companies are making an operating profit the possibility of shutting in is doubtful. The first quarter of 2016 will further test producers resolve as many will likely post negative operating margins. In Q4 earnings a trend emerged as several oil sands producers announced that they would be increasing oil sands production output through de-bottlenecking and optimisation efforts. Rather than shutting in, producers have instead focused on bringing costs on a per barrel basis down by increasing production and focusing on optimisation and debottlenecking initiatives.

What's included?

This report includes 2 file(s)

  • Canada's Oil Sands: highlights from Q4 2015 results PDF - 425.40 KB 8 Pages, 1 Tables, 8 Figures
  • Canada's Oil Sands highlights from Q4 2015 results.xls XLS - 527.00 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.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • Executive summary
  • Benchmark oil prices and bitumen realisations
  • Oil sands operating netbacks
  • Oil sands producers focus on project optimisation
  • Mining production flat as Kearl approaches design capacity
  • In Situ production reaches record levels
  • A look ahead at 2016 production potential
    • Production increases
    • Production decreases
  • Planned turnarounds for 2016
  • Other notable events
    • Oil sands royalty framework maintained
    • Landmark Quest Carbon Capture and Storage facility comes online
    • Suncor and Canadian Oil Sands deal comes to a close

In this report there are 9 tables or charts, including:

  • Executive summary
  • Benchmark oil prices and bitumen realisations
    • Benchmark prices vs. bitumen realisations
    • Bitumen discount relative to benchmark prices
    • Realised prices in Cdn$/bbl
  • Oil sands operating netbacks
    • Cenovus Foster Creek Q4 2015 netback - actual
    • Foster Creek netback estimate - US$30/bbl WTI
  • Oil sands producers focus on project optimisation
  • Mining production flat as Kearl approaches design capacity
    • Mining Production
  • In Situ production reaches record levels
    • In situ projects producing >35,000 b/d
    • In Situ Projects producing <35,000 b/d
  • A look ahead at 2016 production potential
    • In situ oil sands projects increasing production output or capacity in 2016
  • Planned turnarounds for 2016
  • Other notable events
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