Suncor announces quarterly record

Suncor Energy Inc. says its upstream production in the last three months of 2018 hit a quarterly record of 831,000 barrels of oil per day on average, up 12 per cent from its 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 per cent 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.

(Canadian Press)