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Suncor Energy Inc
Symbol SU
Shares Issued 1,261,765,782
Close 2024-10-18 C$ 54.00
Market Cap C$ 68,135,352,228
Recent Sedar Documents

FP says next 15 years seen as good for Cenovus, others

2024-10-21 09:01 ET - In the News

See In the News (C-CVE) Cenovus Energy Inc

The Financial Post reports in its Saturday edition that Canada has 15 years of profitable supplies of oil and gas even at depressed energy prices, according to energy researcher Enverus. The Post's Meghan Potkins writes that the oil sands and Western Canada's gas-rich Montney formation are home to around 15 years of production that can turn a profit for companies even if energy prices fall below $60 for benchmark West Texas Intermediate (WTI), presuming current activity levels, the report said (all figures U.S.). Oil inventories in the U.S. capable of generating adequate returns at depressed prices are limited to about five years. The Montney and the oil sands "have the inventory length that really leads the pack; everything else is not even comparable," said Alex Ljubojevic, intelligence research director at Enverus. The average break-even price for oil sands steam-assisted gravity drainage projects was around $45 per barrel of WTI in 2023-24, Enverus said. The break-even price for Montney producers was $50 per barrel of WTI. Production rich in condensates is also driving the profitability of gas wells for operators in the Montney region. The federally owned Trans Mountain pipeline is also helping Alberta producers.

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