Insight
Coronavirus and the oil price crash: a Canadian perspective
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The Canadian oil and gas sector has a long history of dealing with price volatility, but this recent downturn is different with a triple blow of low oil prices, falling demand due to coronavirus and egress challenges. The response of regional operators has been quick with an average 29% of capital cut from 2020 guidance and approximately 350 kbd of near-term curtailments announced. However, as supply fills and oversupply lengthens, more cuts will be needed with oil sands the likely target. Liquid-rich plays are also hit hard by the oil price drop, with over 40% of unconventional sub-plays that were previously economic now uneconomic. We outlined which oil sands projects are highest risk to shut in and looked at the impact of a downside drilling scenario to condensate and gas production. Every lever is being pulled as Canadian companies move into survival mode.
Table of contents
- Executive summary
Tables and charts
This report includes the following images and tables:
-
Downside scenario where more oil sands cuts needed
What's included
This report contains:
Other reports you may be interested in
Asset Report
Meltwater (Kuparuk River Unit)
The Meltwater field was discovered in early 2000. It is located to the south of Tarn and the slope reservoir deposits are analogous ...
$3,720
Insight
Regional fiscal benchmarking: Latin America
In this report, we compare the current fiscal state of play in Latin America.
$1,350
Asset Report
Paramount Resources Alberta
Paramount Resources is a Canadian energy company incorporated in 1978, with properties in Alberta, British Columbia, Saskatchewan and ...
$3,720
