News Release

Canadian oil sands: Back in the limelight

Assets are falling lower on the cost curve than many realize and represent nearly 40% of North America’s sub-$50 WTI breakeven oil

byEnverus

CALGARY, Alberta (July 2, 2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS and generative AI company, has released a report that examines where Canadian oil sands assets fall on the North American cost curve.

“The often-overlooked Canadian oil sands represent nearly 40% of North America’s sub-$50 WTI breakeven oil resource,” said Dane Gregoris, managing director with EIR.  

“Oil sands businesses are particularly attractive to global investors today because of their long duration oil resource and newfound egress. This is especially relevant at a time where U.S. shale oil growth is slowing, and low-cost drilling inventory is becoming scarcer south of the border,” Gregoris said.

Key takeaways from the report:

  • The Canadian oil sands represent nearly 40% of North America’s sub-$50 WTI breakeven undeveloped oil resource and offer a compelling opportunity for investors and producers to extend duration in E&P asset portfolios.
  • Oil sands output exceeds 3 million barrels per day, the majority of which is extracted using steam-assisted gravity drainage (SAGD) or surface mining techniques.
  • Integrated mining projects sit on the very low end of the North American cost curve while existing SAGD projects generally offer Permian-competitive resource breaking even between $40 and $50 WTI.

EIR’s analysis pulls from a variety of Enverus products including Enverus Intelligence® Research and Enverus Foundations®.

You must be an Enverus Intelligence® subscriber to access this report.

About Enverus Intelligence Research
Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections between energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. Enverus is the most trusted energy-dedicated SaaS company, with a platform built to create value from generative AI, offering anytime, anywhere access to analytics and insights for more than 95% of U.S. energy producers and more than 40,000 suppliers. Learn more at Enverus.com.

Mdia Contact: Jon Haubert | 303.396.5996

View all press releases at Enverus.com/newsroom.

Picture of Enverus

Enverus

Energy’s most trusted SaaS platform — creating intelligent connections that uncover insights and opportunities to deliver extraordinary outcomes.

Related News

Enverus Press Release - Returning to growth: US power demand forecast highlights impact of data centers, EVs and solar
News Release
ByEnverus

Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS and generative AI company, has released its long-term load forecast model that considers historical drivers of power demand across the Lower 48 U.S. and models variables it...

Enverus Press Release - Enverus Integrates With Fendahl to Enhance Energy Trading and Risk Management Solutions
News Release
ByEnverus

Enverus, the leading global energy data analytics and SaaS technology company, today announced a strategic integration with Fendahl, a specialist provider of Commodity Trading and Risk Management (CTRM) software solutions, to offer energy traders enhanced solutions for improved risk management...

Enverus Press Release - Infrastructure dominates the global energy transition landscape
News Release
ByEnverus

Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS and generative AI company, has released a report that assesses global energy transition strategies and examining how political and economic policies support advancements.

Enverus Press Release - Canadian oil sands: Back in the limelight
News Release
ByEnverus

CALGARY, Alberta (July 2, 2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS and generative AI company, has released a report that examines where Canadian oil sands assets fall on the North American cost...

Enverus Press Release - Enverus releases top 100 private E&P operators list
News Release
ByEnverus

Enverus, the most trusted energy-dedicated SaaS and generative AI company, has released its annual list of the most prolific 100 private oil and gas producers in the U.S. based on gross operated production, well count and rig movements across last...

Enverus Press Release - Surfing Europe’s green wave
News Release
ByEnverus

Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS and generative AI company, has released new research that evaluates Europe's clean hydrogen landscape, analyzing how policies and incentives drive adoption and comparing industry activity to European...

Enverus Press Release - Operational efficiencies are driving cost excellence in North America’s onshore drilling
News Release
ByEnverus

Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS and generative AI company, has released new research that analyzes which oil and gas plays show the greatest rate of increase in drilling speeds and whether well...

Enverus_Press_Release_Permian_Black_Box_Press_Release_Thumbnail
News Release
ByEnverus

Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS and generative AI company, has released its forecasts of natural gas pipeline capacity, constraints and basis in the Permian basin.

Enverus News Release - Manuj Nikhanj named Enverus CEO
News Release
ByEnverus

AUSTIN, Texas (May 29, 2024) — Enverus, the most trusted energy-dedicated SaaS and generative AI company, today announced the promotion of Manuj Nikhanj to the position of CEO, effective July 1, 2024. Nikhanj, who currently serves as Enverus’ president, will...

Find Out How Enverus Can Help Your Business

Subscribe to the Energy Blog

A weekly update on the latest “no-fluff” insight and analysis of the energy industry.

Let’s get started!

We’ll follow up right away to show you a quick product tour.

Let’s get started!

We’ll follow up right away to show you a quick product tour.

Get Started

Register Today

Sign Up

Power Your Insights

Connect with an Expert

Access Product Tour

Speak to an Expert