Random Update On Costs Of Mining Western Canadian Oil Sands Bitumen -- Costs Have Increased By As Much As 13% This Past Year -- And Keystone XL Not Yet Approved

Oil & Gas Journal is reporting:

The estimated cost of producing bitumen in Canada has increased by 6.3-13.2% in the past year, depending on the production method ....

Supply costs at the plant gate, CERI says in an annual report, are C$30.32/bbl for primary recovery, $47.57/bbl for steam-assisted gravity drainage, C$99.02/bbl for integrated mining and upgrading, and $68.30/bbl for mining alone.

Compared with CERI’s estimates last year, the costs are up 6.3% for SAGD, 10.9% for integrated mining, and 13.2% for stand-alone mining.

Meanwhile, costs are dropping in the Bakken to drill a well.