CNR steadies output in North Sea, offshore Côte d’Ivoire

Canadian Natural Resources has issued an update on its international E&P operations.

Offshore staff

CALGARY, CanadaCanadian Natural Resources (CNR) has issued an update on its international E&P operations.

2Q represented the first full quarter of production at the company’s operatedEspoir and Baobab fieldsoffshore Côte d’Ivoire following completion of an infill drilling program.

Oil production rose by 81% from the 1Q level, averaging 30,858 b/d. However, crude oil operating costs also increased from $15.62/bbl to $20.13/bbl due to the timing of liftings from various fields.

CNR’s oil production from itsUK northern North Sea fields averaged 23,360 b/d in 2Q, comparable to 1Q, helped by increased reliability and waterflood optimization.

Operating costs were down 15% on 1Q levels at $40.74/bbl.

08/08/2016

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