PLANT

Suncor Energy reports production hits quarterly record in Q4

Production 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.

 

News from © Canadian Press Enterprises Inc. 2016

Have your say:

Your email address will not be published. Required fields are marked *

*