Low oil prices have slowed Imperial's oil sands growth, while the balance sheet remains strong.
At Imperial Oil's annual update, the firm announced that it has identified opportunities to add 40,000 barrels of oil per day (gross) at its Kearl oil sands mining project through debottlenecking. Surprisingly, this mining expansion project makes sense, while most mining expansion projects require break-evens in excess of $65/bbl WTI. The debottlenecking carries a capital efficiency of CAD 14,000 per flowing barrel, which stands well below typical expansion projects that can approach CAD 100,00...
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