According to the Zhitong Finance App, Sunshine Oilsands (02012) announced results for the first quarter ending March 31, 2022. The company achieved pre-tax profit of $56.232 million during the period, pre-tax loss of $2.688 million, net profit of $56.232 million in the same period last year, and achieved a net loss of $2.688 million and a basic profit of $0.23 per share in the same period last year.
According to the announcement, in the three months ending March 31, 2022, West Ells's average oil sands heavy oil production was 0 barrels/day, respectively. Mainly due to the temporary shutdown of production on March 31, 2020, the company will continue to closely monitor the development of the international oil market and the COVID-19 epidemic in North America.
For the three months ending March 31, 2022, WEST ELLS' average oil sands heavy oil sales volume was 0 b/d, while the average sales volume of oil sands heavy oil for the three months ending March 31, 2021 was 22 b/d. The drop of 22 b/d over the same period was due to the temporary cessation of production on March 31, 2020.
Oil sales come from sales of diluted oil sands. Oil sales for the three months ended March 31, 2022 (net of licensing fees) were $0, while oil sales for the three months ended March 31, 2021 were $140,000. Due to the temporary cessation of production on March 31, 2020, sales of diluted oil sands heavy oil fell by 100,000 Canadian dollars.
Due to the temporary cessation of production on March 31, 2020, sales per barrel of oil for the first quarter of 2022 were not disclosed. Oil sales for the same period in 2021 were $58.75 per barrel.
For the three months ending March 31, 2022, the company's oil sands heavy oil revenue was $0 CAD, compared to $100,000 for the three months ending March 31, 2021. Heavy oil revenue from oil sands fell by $100,000 during the same period due to the temporary shutdown of production on March 31, 2020. Since sales were zero in the first quarter of 2022, the realized price per barrel for the first quarter of 2022 was not disclosed. The realized price per barrel of heavy oil sands in the same period in 2021 was 58.75 Canadian dollars/barrel.