Both companies and investors have fled the tar sands in Canada since oil prices plunged 50% between 2014 and 2016. But one company has just discovered a revolutionary new way to extract oil in the region. That means this one Canadian oil sands stock is primed for incredible gains.
And there's still time to get in on this stock early before it explodes…
The Canadian oil sands could be one of the most lucrative oil plays in the world. There's an estimated 315 billion barrels of oil in the oil sands in Alberta, which means Canada has the third-largest oil reserves in the world. But even though there's a ton of oil there, it costs so much to produce that most companies can't make a profit with oil futures trading at $52.79 a barrel.
That's about to change for one company…
And that means you have the opportunity to jump in on this Canadian oil stock before it skyrockets.
In fact, the stock is trading near its 52-week low, which means it's the perfect buy-low opportunity.
That's because Wall Street analysts are projecting the stock could surge 70% higher this year alone.
Here's a look at the explosive potential at stake in the tar sands right now and the one company that is poised for explosive growth…
Why the Canadian Tar Sands Are a Huge Opportunity Right Now
The high production costs in the oil sands make some investors skeptical, but that's only part of the story.
While it's true production costs are higher, these expenses are front-loaded in the startup investment. Companies have to make a substantial initial investment to begin producing oil there. But once established, the variable costs are much lower.
In fact, the variable costs are as low as $20 a barrel. That means a company that's made the initial investment can still profitably produce oil in the oil sands region.
But for companies like ConocoPhillips (NYSE: COP), which just unloaded $13.3 billion in oil sands assets, the big upfront costs aren't worth the trouble. Like other Big Oil companies, ConocoPhillips has been bogged down in unprofitable megaprojects and needs to free up cash.
While companies like ConocoPhillips are selling land in the area, one company is buying assets in the tar sands and quietly taking control of the lucrative oil patch. And when its radical new technology is implemented, it will turn the oil sands into a money-making machine.
Here's the best Canadian oil sands stock to buy right now…