Suncor Energy reports production hits quarterly record in Q4
Production averaged 831,000 barrels of oil equivalent per day, up 12% from Q3.
CALGARY — Suncor Energy Inc. says its upstream production in the last three months of 2018 hit a quarterly record.
Canada’s largest integrated oil and gas company says production averaged 831,000 barrels of oil equivalent per day, up 12% from the third quarter.
Oil sands operations produced approximately 433,000 barrels per day in the quarter, while total production from exploration and production was 90,000 boe/d.
In its outlook, Suncor maintained its December production guidance for 2019 that forecast production growth of 10% even after production cuts imposed by the Alberta government.
The province announced mandatory production curtailments for the industry this year in a bid to reduce a glut of oil and help boost low prices.
Suncor’s full fourth-quarter results will be issued Feb. 5.