Early Signs of Revival Visible in Canadian Oil Sands Industry

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					Early Signs of Revival Visible in Canadian
Oil Sands Industry

                                                                                Reference Code: GDGE0612VPT
                                                                                Publication Date: JUL 2009




Energy Viewpoint                                                              GDGE0612VPT / Published JUL 2009
© GlobalData. This brief is a licensed product and is not to be photocopied

Source: www.energyetrack.com                                                                                 Page 1
Table of Contents



1           Table of Contents

1      Table of Contents                                                                                    2

1.1       List of Tables                                                                                     4

1.2       List of Figures                                                                                    5


2      GlobalData Viewpoint                                                                                 6

2.1       Summary                                                                                            6


3      Early Signs of Revival Visible in Canadian Oil Sands Industry                                        7

3.1       Canadian oil and gas industry has been hit hard by the financial crisis and the price collapse 7

3.2  Lagged reduction in the construction costs and a price recovery changing the outlook for the
Canadian oil and gas industry                                                                     9

3.3       First signs of the revival of the Canadian oil and gas industry                                   11

3.4   Will these factors sustain the positive outlook in the Canadian oil and gas industry in the long
term? 11

3.5       Conclusion                                                                                        12


4      Recent Developments                                                                                 13

4.1       License Awards                                                                                    13

4.2       Strategy and Business Expansion                                                                   14

4.3       Drilling and Production Updates                                                                   15

4.4       Financial Announcements                                                                           20

4.5       Other Significant Developments                                                                    27


5      Appendix                                                                                            29

5.1       Methodology                                                                                       29


Energy Viewpoint                                          
				
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Description: Early Signs of Revival Visible in Canadian Oil Sands Industry Summary Global energy investments are being affected by a combination of major issues affecting the global oil and gas markets. Most of the companies throughout the oil and gas supply chain are scaling back on their planned projects and investments. Significantly, the projects that are considered to have high risk and which require huge credits are the first to be delayed or shelved altogether. The financial crisis and the oil price collapse adversely affected many unconventional oil and gas projects by making production uneconomical. Consequently, a lot of the exploration and projects in the Canadian oil and gas sector were delayed or suspended. However, falling construction and operating costs and a recovery of the oil price in recent months is a positive sign for the oil and gas industry especially in Canada. The recovery in the prices, especially the crude oil prices has encouraged some companies to restart their stalled projects. However, sustained levels of crude oil and natural gas prices, a positive recovery of the global economy and thereby energy demand will be critical factors in order for these first signs of recovery to sustain in the long term. Scope - Coverage of the oil and gas industry - Key trends related to the effect recession on the oil and gas industry - Analysis of the market landscape in Canada Reasons to buy - Develop business strategies with the help of specific insights from GlobalData on the key events happening in the oil and gas industry. - Gain a strong understanding of the energy market and analyze the major trends in the global oil and gas industry today - Identify opportunities and challenges with the help of our analysis of the latest news and deals in the oil and gas industry - Increase future revenue and profitability with the help of information on latest operational, financial, and regulatory events Keywords News, Analysis, Opinion, Vie
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GlobalData is an industry analysis specialist, providing business information products and services. GlobalData’s highly qualified team of analysts, researchers, and solution consultants use proprietary data sources, tools and techniques to gather, analyze and represent the latest and the most reliable information essential for a business to sustain a competitive edge. GlobalData is a UK-based company with presence across North America, Europe and Asia Pacific and has a broad product offering that ranges from interactive databases, reports and custom solutions. It is a comprehensive source of insights and analysis with coverage across the oil & gas, power, alternative energy, nuclear power, petrochemicals, medical equipment and healthcare industries. GlobalData has a broad range of coverage over key market segments. It has a global scope, covering a wide range of countries constituting more than 90% of global revenues in each of the industries it covers. With a large dedicated research and analysis capability, GlobalData employs rigorous primary and secondary research techniques in developing unique data sets and research materials. Its status as an independent research company allows Analysts to conduct trade interviews with key industry players. Access to unique databases of in-house market information further strengthens research and analysis capabilities. Materials are reviewed shaped by an expert panel of leading industry figures and representatives from key players in the relevant industries. Sectors and Geographies Covered GlobalData has a broad range of coverage over key market segments. It has a global scope, covering a wide range of countries constituting more than 90% of global revenues in each of the industries it covers. Research Methodology With a large dedicated research and analysis capability, GlobalData employs rigorous primary and secondary research techniques in developing unique data sets and research materials. Its status as an independent research company allows Analysts to conduct trade interviews with key industry players. Access to unique databases of in-house market information further strengthens research and analysis capabilities. Materials are reviewed shaped by an expert panel of leading industry figures and representatives from key players in the relevant industries.