The Calgary-based independent raised oil output by 9% year-on-year in the first quarter to 120,444 barrels per day, driven by a 20% production rise at its core oil sands projects where Christina Lake Phase E came online.
Over the same period gas production declined 13% to 476 million cubic feet per day for the New York- and Toronto-listed company.
The independent announced it would go ahead with an initial 8000 to 10,000-barrel phase of its 180,000-barrel Grand Rapids steam-assisted gravity drainage project in Alberta, which gained regulatory approval last month.
Cenovus
