Insight
Canada's Oil Sands: storm clouds in Q3 2018
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Q3 2018 saw storm clouds beginning to roll in for the oil sands. After Western Canada Select (WCS) prices reached highs in Q2, prices dropped by close to 17% primarily due to lower WTI prices. The sector also accomplished record production on both the in situ and mining side in the quarter. The quarter also saw quite a bit of news around market access, the most notable occurring on 30 August when the Federal Court of Appeal quashed the construction permit for the Trans Mountain pipeline. On the M&A side, Husky's hostile bid for MEG Energy was announced on 30 September.
Table of contents
- Executive summary
- Benchmark Crude Prices
- WCS prices
- Bitumen and SCO realisations
- In-situ production
- Mining production
- Operating costs
- Transportation bottlenecks
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Significant events
- TMX goes back to the drawing board
- Rail deals abound
- Merger madness
- A greenfield project beckons?
- Cenovus Christina Lake achieves payout
- Some producers cut production, others don't
- Orion expansion
Tables and charts
This report includes the following images and tables:
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Benchmark pricingBenchmark price performanceHistoric WCS prices
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Realised bitumen pricesIn-situ projects producing >35 kb/dIn-situ projects <35 kb/dMining project productionMining & upgrading operating costsIn-situ operating costsCrude by rail
What's included
This report contains:
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