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

Q2 Results Q/Q comparison:

  • Revenue decreased 27% to $5.9B
  • GAAP Diluted EPS of ($0.46) compared to $0.50
  • GAAP Net income of ($735M) compared to $729M
    • Includes various noncash charges totaling $170M
  • Operating income of ($565M) compared to $906M
  • Cashflow from operation of $916M compared to $2.2B
  • Return on capital (excluding major projects in progress): N/A
  • Average barrels of oil equivalent per day:
    • Oil sands decreased 53% to 213K barrels (reflecting forest fires in Fort McMurray that caused production to be shut down for several weeks)
    • Exploration & Production increased 6% to 118K
  • Refinery utilization rates at 87%, down from 90%
  • Cash operating cost per barrel of $46.80, up from $28.00 (due to the loss of production from forest fires)
  • Average sales price per barrel:
    • Oil sands: $34.21, down from $50.85
    • Exploration and Production: Eastern Canada—$62.39, down from $78.23; International—$55.43, down from $72.84

Stock Price: $26
Market Capitalization: $41.5 billion

July 27, 2016






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