CNRL announces oil sands production gain
John Shmuel, Financial Post
Jun. 30, 2010
Canadian Natural Resources Ltd. revealed in its June forecast that its oil sands production will hit between 116,000 and 118,000 barrels a day for the month, after a maintenance shutdown in May helped boost efficiency.
The June figures are significantly higher than last month's, when the Calgary-based energy company produced 81,400 barrels a day after a partial shut down of operations for maintenance.
Canadian Natural said looking forward, it will target stable production of approximately 110,000 barrels of synthetic crude oil a day.
The energy giant is one of Canada's largest oil and natural gas producers. It has operations in Western Canada, the U.K. portion of the North Sea and off the coast of West Africa.
Shares in the company sat at $35.05 as of Tuesday's close.
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