July 11, 2024
Since 2016, mining had lower weighted gross revenue per barrel compared to in situ.
In Situ: Weighed gross revenue for in situ has increased from 17 USD/Bbl in 2016 to over 60 USD/Bbl in 2022. Despite the notable fluctuation in revenue, especially during the Covid pandemic year of 2020, there is an overall upward trend in revenue increasing significantly in 2021 and 2022.
Mining: Weighed gross revenue for mining grew from 11 USD/Bbl in 2016 to 43 USD/Bbl in 2022. Like in situ, revenue fluctuates from year to year but shows an upward trend, again showing the fastest growth in 2021 and 2022.
Source: Alberta Oil Sands Royalty Data, 2022