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Connacher Reports Uncertain Future in 3Q 2014
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Connacher Oil and Gas Limited has announced its financial and operating results for the quarter ended September 30, 2014 (Q3 2014) (all amounts are in Canadian dollars unless otherwise noted).
Q3 2014 Highlights
Q3 2014 production increased 20% to a quarterly record of 14,163 bbl/d (Q3 2013 - 11,788 bbl/d). Production increases were attributable to the Company's four infill wells at Pod One which began production in Q4 2013; four new well pairs at Pad 104 which came online in Q1 2014; and five new infill wells at Pod One that started production in Q3 2014 Pod One bitumen production for September averaged 9,240 bbl/d and fully utilized the facility's current inlet emulsion handling capacity Adjusted EBITDA decreased 22% to $28.8 million in Q3 2014 (Q3 2013 - $36.8 million), due to lower…- ✓ Full news archive — U.S., Canada & international coverage
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