CAPEX (2023 and ) 2024 spend will be harvest ready in 2025 onwards
Projected 2024 Production is flat, no growth till 2025 (albeit marginal production growth in 2025)
Total CAPEX 2024 is $5.4B, and of that
- Allocated to 2024 Oilsands is about $2.9B
new wells to be drilled at Primrose, Wolf LK and Jackfish, but production due in 2025
- recent Q3 Wolf LK Primrose's SOR is a sad 4.5 (but great improvement from Q2 SOR 6.3 !!)
- recent Q3 Jack Fish's SOR is 2.6
the commercial scale solvent bolt-on SAGD is a (new?) pad at Kirby
- recent Q3 Kirby's SOR is a dismal 3.7
- let see how this new pad make a dent to improve Kirby in a years time
Conclusion
Practically no improvements with their insitu metrics.
Even more sad, No hint of a AXE CTI RFXL demo to see if they might find an improvement/solution to their inefficient insitu operations.