Suncor Energy reports production hits quarterly record in Q4
By CP STAFF
Industry Energy Manufacturing Resource Sector energy manufacturing Oil Sands oilsands SuncorProduction averaged 831,000 barrels of oil equivalent per day, up 12% from Q3.
Suncor’s Edmonton refinery. PHOTO: SUNCOR
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.
