March 25, 2020 / 12:04 AM / 7 days ago

BRIEF-Teck Provides Update On Fort Hills Production Plan

Teck Resources Ltd:

* 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% Source text for Eikon: Further company coverage:

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