Report
Joe Gemino
EUR 147.86 For Business Accounts Only

Solvents Aid Oil Sands in Competitiveness; Raising Sector Outlook

After incorporating the impact of our research on solvent-assisted technology, we are raising our fair value estimates for all of our oil sands producers apart from Husky Energy and Suncor Energy. The increases are modest, as a significant portion of value added from solvent-assisted technology was offset by the recent revision in our near-term oil price forecast. As a result, most of our names continue to look overvalued, while Husky remains on our Best Ideas list.
Oil sands projects have long ...
Underlying
Imperial Oil Limited

Imperial Oil is an integrated oil company. Co. is active in all phases of the petroleum industry in Canada, including the exploration for, and production and sale of, crude oil and natural gas. In Canada, Co. is a producer of crude oil, natural gas and petroleum refiner and a marketer of petroleum products. Co. is also a producer of petrochemicals. As of Dec 31 2017, Co. had 1.57 billion barrels of oil-equivalent basis of net proved reserves, which consisted of 44.0 million barrels of liquids, 641.00 billion cubic feet of natural gas, 473.0 million barrels of synthetic oil, and 946.0 million barrels of bitumen.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Joe Gemino

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