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Source: Evaluate Energy New data from Evaluate Energy shows that MEG Energy’s oilsands operations generate the highest overall operating netback per barrel among North America’s heaviest oil-weighted producers. This analysis was conducted using publicly listed producers in Canada and the United States. Data on the Top 5 netbacks recorded by oil-heavy and natural gas-heavy producers in Q3 2020 is available here: https://www2.evaluateenergy.com/top-10-netbacks-earnings-oil-gas-upstream-Q3-2020-Feb152021 “MEG ranks highly in the group because it only produces oil. It has no natural gas sales weighing down its revenues, much like most of the companies here in the top 5 oil producers,” said Mark Young, senior analyst at Evaluate Energy. “At just $2/boe back from MEG in Q3 netbacks, one could argue that Pioneer has the ‘best’ netback of the group, as it is only 80% weighted towards oil production,” Young continued. “Every other company in the top 5 oil producers is weighted at least 89% towards oil.” To download the data, click here: https://www2.evaluateenergy.com/top-10-netbacks-earnings-oil-gas-upstream-Q3-2020-Feb152021 On the gas-heavy side, it was a similar story. Three Canadians ranked highly, with netbacks of almost $9/boe recorded by Birchcliff Energy, Tourmaline Oil and ARC Resources, but it was one of the American contingent here that stands out. “Comstock […]
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