UPDATE 1-Canadian Natural, Cenovus resume Pelican Lake operations after fire threat

Published 2016-06-09, 05:53 p/m
UPDATE 1-Canadian Natural, Cenovus resume Pelican Lake operations after fire threat
CNQ
-
CVE
-

(New throughout, adds Cenovus restarting production)
CALGARY, Alberta, June 9 (Reuters) - Canadian Natural
Resources Ltd CNQ.TO and Cenovus Energy CVE.TO said they
restarted operations at two oil sands facilities in the Wabasca
region of northern Alberta on Thursday after a wildfire threat
dissipated.
The companies shut their Pelican Lake projects and evacuated
workers as a blaze that has swelled to 75 hectares (185 acres)
encroached on facilities over the last two days, marking the
second time in five weeks that wildfires have cut western
Canadian oil output.
Canadian Natural said on Thursday it had returned to normal
operations, including the restart of 800 barrels per day of
shut-in production, company spokeswoman Julie Woo said, as
firefighters and weather patterns held fires back from its
facilities.
The facilities produce an average of 47,600 barrels per day,
Woo said, citing first-quarter filings.
Cenovus said it was in the process of restarting production
at its 23,000-barrel-per-day project on Thursday after it
evacuated all 118 workers and shut down production two days
prior.
The Pelican Lake fire was about 160 km (100 miles) southwest
of a massive wildfire that was still burning east of the city of
Fort McMurray, Alberta. That blaze forced some 90,000 residents
to flee the city and shut down more than 1 million barrels per
day of oil sands output.
Canadian cash crude differentials held steady on Thursday as
market players waited to see how fast crude volumes would come
back online after the series of blazes.
The Pelican Lake blaze was being held some 30 km (19 miles)
from Wabasca, fire official Travis Fairweather said.
"The fire won't grow any more given the current weather
conditions and resources devoted to it," Fairweather said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.