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Connacher Announces Curtailment of Production Due to Wildfires
Connacher Announces Curtailment of Production Due to Wildfires Connacher Announces...
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[{"type":"text","content":"\n\n\n\nConnacher Announces Curtailment of Production Due to Wildfires\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nConnacher Announces Curtailment of Production Due to Wildfires\nCanada NewsWire\nCALGARY, May 4, 2016\n\n\n\nCALGARY, May 4, 2016 /CNW/ - Connacher Oil and Gas Limited (CLC - TSX; \"Connacher\" or the \"Company\") announces that it is proceeding with a temporary curtailment of production at its facilities at Great Divide which are being impacted by the raging wildfires to the south of Fort McMurray and the subsequent mandatory evacuation of the entire city of Fort McMurray. \n\nThe Company's Great Divide site has limited access, and all staff onsite are safe. The Company is working with emergency responders, and has provided rooms and fuel in the past 24 hours. \n\nProduction at Great Divide will be reduced to approximately 4,000 bbl/day of bitumen. When access returns to normal the Company plans to begin ramping production back up.\n\nFurther information will be released as it becomes available. \n\nAbout Connacher\n\nConnacher is a Calgary-based in situ oil sands developer, producer, and marketer of bitumen. The Company holds a 100 per cent interest in approximately 440 million barrels of proved and probable bitumen reserves and operates two steam-assisted gravity drainage facilities located on the Company's Great Divide oil sands leases near Fort McMurray, Alberta.\n\nForward Looking Information\n\nThis press release contains forward looking information, including anticipated production rates. Forward looking information is based on management's expectations regarding the Company's future financial position, the Company's future growth, results of operations and production, future commodity prices and foreign exchange rates, future capital and other expenditures (including the amount, nature and sources of funding thereof), plans for and results of drilling activity, environmental matters, business prospects and opportunities and future economic conditions. Forward looking information involves significant known and unknown risks and uncertainties...