By Adriano Marchese
Bonterra Energy said Friday that its oil production in 2024 has surpassed its preceding year's by about 5% thanks to strong production in the fourth quarter.
The Calgary, Alberta-based energy company said annual oil production reached 14,846 barrels of oil equivalent a day, which was higher than the midpoint of its guidance, 14,000 barrels a day.
Fourth-quarter 2024 volumes averaged 15,619 barrels a day, which was a quarterly production record for the company, the company said.
Production costs averaged 16.54 Canadian dollars ($11.45) per barrel, which reflects a 3% increase over the prior year, primarily due to start-up activities and early stage third party infrastructure arrangements, it said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 14, 2025 07:14 ET (11:14 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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