Note: all figures are reported in Canadian Dollars (current $USD/$CAD exchange rate is 1.30)

Q1 Results Q/Q comparison:

  • Revenue decreased 24% to $5.6B
  • GAAP Diluted EPS increased to $0.17 from a loss of $0.24
  • GAAP Net income increased to $257M from a loss of 341M
    • Includes an unrealized foreign exchange gain on U.S. dollar denominated debt of $885M
  • Operating income decreased to a loss of $500M from a gain of $175M
  • Cashflow from operation decreased to $682M from $1.5B
  • Return on capital (excluding major projects in progress) of 1.4%, down from 8.7%
  • Average barrels of oil equivalent per day:
    • Oil sands increased 19% to 566K barrels
    • Exploration & Production was flat at 126K
  • Refinery utilization rates at 91%, down from 95%
  • Cash operating cost per barrel of $24.25, down from $28.40
  • Average sales price per barrel:
    • Oil sands: $34.21, down from $50.85
    • Exploration and Production: Eastern Canada—$46.17, down from $66.38; International—$43.02, down from $64.48
  • Acquired an additional 5% interest in Syncrude for $937M (USD $750), bringing its total ownership to 53.74%.

Stock Price: $29
Market Capitalization: $45.6 billion

April 27, 2016






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