Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update | Oil Sands | Oil Sands Projects
Kearl Oil Sands Paying Off for Imperial
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Rich Kruger, Chairman, President and Chief Executive Officer, commented: "Imperial's strong results in the first quarter underscore the competitiveness of our business model, which includes full value chain integration from upstream to refining to fuels marketing and chemicals. We focused on base business fundamentals, including safety, operational integrity, reliability and profitability. Execution continued on our upstream growth strategy, concentrated on Kearl production ramp up and expansion and the Cold Lake Nabiye project.
Earnings in the first quarter were $946 million , or $1.11 per share, up 19 percent from the same period in 2013.
Gross production averaged 330,000 oil-equivalent barrels per day, up 46,000 barrels versus 2013, primarily due to production from Kearl. Kearl…
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