January 7, 2019 12:35 pm

Suncor Energy reports production hits quarterly record in fourth quarter

Pipes lead to a processing unit at Suncor Fort Hills facility in Fort McMurray Alta., on September 10, 2018. Suncor Energy Inc. says its upstream production in the last three months of 2018 hit a quarterly record. THE CANADIAN PRESS/Jason Franson

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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 per cent from the third quarter.

READ MORE: Calgary-based Suncor Energy reports 3rd-quarter operating income of $1.56B

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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 Alberta government.

READ MORE: Suncor warns forced oil cutbacks in Alberta pose safety, operational risks

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.

© 2019 The Canadian Press

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