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Surviving low oil prices in Canada's oil sands

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Report summary

The operating cost of extracting bitumen in Canada's oil sands tops out at US$37/bbl for in situ projects and US$40/bbl for mining projects. It is amongst the highest of all project types globally. With low oil prices companies will see oil sands cash flows fall by US$21 billion in 2015 and 2016 combined. We calculate that over US$35 billion of remaining present value has evaporated in the region. Regardless the oil sands remain viable and hold considerable long term value.

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  • Surviving low oil prices in Canada's oil sands: Image 1
  • Surviving low oil prices in Canada's oil sands: Image 3
  • Surviving low oil prices in Canada's oil sands: Image 4
  • Surviving low oil prices in Canada's oil sands: Image 5
  • Surviving low oil prices in Canada's oil sands: Image 6
  • Surviving low oil prices in Canada's oil sands: Image 2
  • 2012 to 2014 project phases
  • 2015 and 2016 project phases
  • Company interest in commercial oil sands projects
  • Wood Mackenzie's commercial oil sands projects

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