• The Canadian oil and natural gas industry had a banner year for equity financings in 2010, raising $19.9 billion in capital, which represents an increase of $1.3 billion over 2009. New equity in 2010 equaled $12.6 billion, which represents a year‐over‐year increase of 111% over 2009 and 28% over 2007, the previous record. The average size of equity issues in 2010 was $19.3 million, representing a 67% increase over 2009. The largest equity issue went to the Athabasca Oil Sands Corp. $1.4 billion IPO, directed at developing the Birch, Dover, Grosmont and Hangingstone projects.  
  • As part of the Government of Alberta’s new bitumen royalty‐in‐kind initiative (BRIK), and in conjunction with the North West Upgrading/CNRL partnership, the first phase of a new 50,000 bpd bitumen refinery is expected to be completed in 2014, with the possibility of two more 50,000 bpd phases to follow. The first phase will refine 37,500 bpd of Crown bitumen along with 12,500 bpd of bitumen from CNRL.  
  • Alberta Oilsands production rose to 726,800 bpd of synthetic crude in 2010, approximately a 4% increase over the 699,396 bpd produced in 2009. Total synthetic crude oil production was up 10% in the fourth quarter of 2010, reaching 839,000 bpd. Syncrude’s production increased from 280,800 bpd in 2009 to an average 293,000 bpd of synthetic crude in 2010. Averaging 325,900 bpd, Suncor Energy reported record production of in situ and mined bitumen in the fourth quarter of 2010, achieving an almost 17% increase over the 278,900 bpd produced in the last quarter of 2009.