Name: Canada's Oil Sands: M&A dominates Q1 2017
Brand: Wood Mackenzie
SKU: 66627
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Author: Wood Mackenzie

Insight 15 May 2017

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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                <div>
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.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        Executive summary
    </li>

<li class="list__item-toggle">
        <a href="#bb7db988-d7e1-4eae-8d62-c3f0ba19d27e" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="bb7db988-d7e1-4eae-8d62-c3f0ba19d27e" aria-expanded="false">
            Benchmark oil prices and bitumen realisations
        </a>
        <ul id="bb7db988-d7e1-4eae-8d62-c3f0ba19d27e" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Realised prices in Cdn$/bbl
    </li>

</ul>
    </li>

<li class="list__item-toggle font-semibold">
        In situ production
    </li>

<li class="list__item-toggle font-semibold">
        Mining production
    </li>

<li class="list__item-toggle font-semibold">
        Operating costs
    </li>

<li class="list__item-toggle font-semibold">
        In situ project benchmarking
    </li>

<li class="list__item-toggle">
        <a href="#9f242bc9-9c5d-4497-8335-de83f171c312" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="9f242bc9-9c5d-4497-8335-de83f171c312" aria-expanded="false">
            Significant events
        </a>
        <ul id="9f242bc9-9c5d-4497-8335-de83f171c312" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Cenovus doubles oil sands production with US$13.3 billion ConocoPhillips deal
    </li>
    <li class="push-quarter--bottom">
        CNRL increases oil sands mining exposure with AOSP deal
    </li>
    <li class="push-quarter--bottom">
        Other rumoured oil sands sellers include BP, Chevron and Total
    </li>
    <li class="push-quarter--bottom">
        Athabasca Oil sells royalty on recently acquired Leismer and Corner properties
    </li>
    <li class="push-quarter--bottom">
        Still waiting for Alberta government carbon tax update
    </li>
    <li class="push-quarter--bottom">
        Suncor announces plans to make Lewis regulatory application
    </li>
    <li class="push-quarter--bottom">
        British Columbia general election 2017: Christy Clark remains as Premier
    </li>

</ul>
    </li>

</ul>

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<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
         <li class="list__item push-quarter--bottom">Benchmark prices</li><li class="list__item push-quarter--bottom">Benchmark price performance since Jan-2014</li><li class="list__item push-quarter--bottom">Historical WCS prices</li>
     </ul>
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            View more tables and charts in this report
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        <ul class="list list--bullets panel-toggle" id="235457a759584e7d8dfd2188bf915cb4">
            <li class="list__item push-quarter--bottom">In situ projects producing >40,000 b/d</li><li class="list__item push-quarter--bottom">In situ projects producing <40,000 b/d</li><li class="list__item push-quarter--bottom">Canada's Oil Sands: M&A dominates Q1 2017: Image 7</li><li class="list__item push-quarter--bottom">Mining operating costs</li><li class="list__item push-quarter--bottom">In situ operating costs</li><li class="list__item push-quarter--bottom">Steam oil ratio vs. average production per well</li><li class="list__item push-quarter--bottom">Production per well distribution curve</li><li class="list__item push-quarter--bottom">Canada's Oil Sands: M&A dominates Q1 2017: Image 4</li>
        </ul>
        
    </div>

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<div class="col small-12 large-4 push--bottom">
                    
<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Canada's Oil Sands Q1 2017.xls</p>
<p class="uppercase delta">
    <span>XLS</span>
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</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Canada's Oil Sands: M&A dominates Q1 2017</p>
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    <span>PDF</span>
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