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9 Pages

Canada's Oil Sands: M&A dominates Q1 2017


Canada's Oil Sands: M&A dominates Q1 2017

Report summary

Oil sands headlines in Q1 2017 were dominated by two blockbuster M&A transactions for a combined US$23 billion. The recent transactions follow a wave of consolidation in the oil sands and now over 70% of oil sands production is concentrated in the hands of four of Canada's largest producers: Suncor, CNRL, Imperial Oil and Cenovus. Underneath the M&A headlines, oil sands production continues to increase and reached a new quarterly high of 2.47 million b/d, an increase of 9% from Q1 2016. Production growth has mostly been driven by the ramp-up of new phases, notably: Horizon Phase 2B, Surmont Phase 2, Christina Lake Phase F, Foster Creek Phase G and Sunrise Phase 1.

What's included?

This report includes 2 file(s)

  • Canada's Oil Sands: M&A dominates Q1 2017 PDF - 384.50 KB 9 Pages, 0 Tables, 11 Figures
  • Canada's Oil Sands Q1 2017.xls XLS - 779.50 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.

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  • Executive summary
  • Benchmark oil prices and bitumen realisations
    • Realised prices in Cdn$/bbl
  • In situ production
  • Mining production
  • Operating costs
  • In situ project benchmarking
  • Significant events
    • Cenovus doubles oil sands production with US$13.3 billion ConocoPhillips deal
    • CNRL increases oil sands mining exposure with AOSP deal
    • Other rumoured oil sands sellers include BP, Chevron and Total
    • Athabasca Oil sells royalty on recently acquired Leismer and Corner properties
    • Still waiting for Alberta government carbon tax update
    • Suncor announces plans to make Lewis regulatory application
    • British Columbia general election 2017: Christy Clark remains as Premier

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

  • Executive summary
  • Benchmark oil prices and bitumen realisations
    • Benchmark prices
    • Benchmark price performance since Jan-2014
    • Historical WCS prices
    • Canada's Oil Sands: M&A dominates Q1 2017: Image 4
  • In situ production
    • In situ projects producing >40,000 b/d
    • In situ projects producing <40,000 b/d
  • Mining production
    • Canada's Oil Sands: M&A dominates Q1 2017: Image 7
  • Operating costs
    • Mining operating costs
    • In situ operating costs
  • In situ project benchmarking
    • Steam oil ratio vs. average production per well
    • Production per well distribution curve
  • Significant events
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