Are We About to See a Big Turnaround for Oil Sands?
This past quarter, Devon Energy , ConocoPhillips , and Suncor all posted better-than-expected results from their oil sands or thermal oil or bitumen operations (Side note: We sure have come up with a lot of names for this stuff.) After a couple of years of struggling to keep operational costs in line and a severe lack of takeaway capacity from these regions, it appears that these issues are starting to clear up. Even more surprising, though, is that these companies are posting better-than-expected results even with Canadian oil still selling at a very steep discount to other crudes like West Texas Intermediate.
So what is making this all possible? Tune into the video below to find out what is clearing much of the Canadian oil sands logjam and why companies like Devon and ConocoPhillips should be very hopeful about their futures in the oil sands business.
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The article Are We About to See a Big Turnaround for Oil Sands? originally appeared on Fool.com.Fool contributors Aimee Duffy and Tyler Crowe have no position in any stocks mentioned. You can follow them on Twitter @TMFDuffy and @TylerCroweFool, respectively. The Motley Fool owns shares of Devon Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.