Suncor Sets Quarterly Production Record
CBJ — Suncor Energy reports that 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.
Oilsands operations produced approximately 433,000 barrels per day in the quarter, while total production from exploration and production was 90,000 boe/d.
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 for this year in a bid to reduce a glut of oil and help boost low prices.