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BRIEF-Teck Provides Update On Fort Hills Production Plan

Published 2020-03-24, 08:02 p/m
TECK
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Teck Resources Ltd TECKb.TO :

* TECK PROVIDES UPDATE ON FORT HILLS PRODUCTION PLAN

* DECIDED TO TEMPORARILY OPERATE FORT HILLS AS A SINGLE TRAIN FACILITY

* UNIT COSTS FOR REMAINING PRODUCTION WILL BE HIGHER AS A RESULT OF FIXED COSTS BEING COVERED BY LOWER VOLUMES

* UNIT OPERATING COSTS ARE EXPECTED TO BE C$37 TO C$40 PER BARREL

* EXPECTS ITS 2020 SHARE OF FORT HILLS PRODUCTION WILL BE REDUCED TO APPROXIMATELY 8 TO 9 MILLION BARRELS OF BITUMEN

* NOW EXPECTS FORT HILLS PRODUCTION TO BE ABOUT 100,000 TO 120,000 BARRELS PER DAY, OF WHICH TECK'S SHARE IS 21.3%

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