Suncor reports fourth quarter production record

By The Canadian Press)
January 7, 2019 - 7:12am

CALGARY - Suncor Energy says its upstream production in the last three months of 2018 hit a quarterly record.

Canada's largest integrated oil and gas company states production averaged 831,000 barrels of oil equivalent per day, up 12 per cent from the third quarter.

Oilsands 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 per cent even after production cuts imposed by the Notley 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.

(The Canadian Press) 

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