| 2004 | 2003 | 2002 | 2001 | |
| Syncrude SSB | ||||
| Operating Netback 1 | 33.23 | 21.32 | 23.04 | 18.29 |
| Netback after Sustaining Capital 2 | 30.96 | 19.28 | 21.15 | 16.25 |
| Netback after Pro-forma DD&A 5 | 30.94 | 19.18 | 20.56 | 15.90 |
| Canadian Oil and Gas Producers 3, 5 | ||||
| Operating Netback | 25.14 | 22.19 | 16.01 | 19.07 |
| Netback after Sustaining Capital 4 | 11.75 | 11.51 | 5.47 | 8.80 |
| Netback after DD&A 5 | 14.92 | 12.94 | 6.74 | 7.88 |
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1 Pro-forma Operating Netback for SSB is the Deemed Unit Price at the plant gate less royalties and total operating cost (as defined by Syncrude) per barrel. 2 Sustaining capital is the capital necessary to maintain the current productive capacity of the operation. Sustaining capital per barrel is calculated on a five year rolling average basis. 3 Per barrel amounts for Cdn. Oil and Gas Producers are stated in terms of Barrel of Oil Equivalents (BOE), with natural gas converted on a 6:1 basis. Source of data is Ross Smith Energy Group Ltd, CAPP, Natural Resources Canada, and Statistics Canada. 4 Sustaining capital for Canadian Oil and Gas Producers is finding and development costs calculated on a ten-year rolling average basis. Source of data is Ross Smith Energy Group Ltd. 5 Syncrude’s plant assets are pro-forma depreciated using the unit of production method based on estimated production over the life of the plant (40 years). Equipment and other assets are depreciated over their estimated useful life on a straight-line basis. |
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