Canada's Oil Sands Emerge as Attractive Play Amid Rising Permian Costs

Canada's oil sands have become one of North America's most attractive plays due to rising costs in competing basins, particularly the Permian in Texas.

The oil sands possess an enormous reserve base of 177 billion barrels, making it the largest play on the continent by a wide margin.

Trevor Rix from Enverus Intelligence Research noted that existing operations have some of North America's lowest production costs, with some steam-assisted gravity drainage (SAGD) operations able to break even at less than $40 per barrel.