Imperial Oil
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Address
Imperial's Resources Division Head Office:
Fifth Avenue Place
237 - 4th Avenue
S.W. in Calgary
www.imperialoil.ca
(403) 237-3737
Tel
(403) 237-3737
Web
http://www.imperialoil.ca
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Capex
Production
2007 4Q Production
- Total gross production of crude oil and NGLs in the fourth quarter of 2007 was 279 thousand barrels a day, versus 267 thousand barrels in the fourth quarter of 2006. For the year, total gross production of crude oil and NGLs averaged 275 thousand barrels a day, compared with 272 thousand barrels in 2006.
Gross production of Cold Lake heavy oil averaged 158 thousand barrels a day during the fourth quarter, versus 142 thousand barrels in the same quarter last year. For the year, gross production was 154 thousand barrels a day, compared with 152 thousand barrels in 2006. Higher production in 2007 was due to the cyclic nature of production at Cold Lake and increased volumes from the ongoing development drilling program.
The company's share of Syncrude's gross production was 78 thousand barrels a day in the fourth quarter compared with 76 thousand barrels during the same period a year ago. During 2007, the company's share of gross production from Syncrude averaged 76 thousand barrels a day, up from 65 thousand barrels in 2006 with increased volumes from the Stage 3 upgrader expansion.
In the fourth quarter, gross production of conventional crude oil averaged 29 thousand barrels a day, unchanged from the same period in 2006. For the full year, gross production of conventional crude oil averaged 29 thousand barrels a day, compared with 31 thousand barrels in 2006. Natural reservoir decline in the Western Canadian Basin and the impact of divested producing properties were the main reasons for the reduced production.
Gross production of NGLs available for sale was 14 thousand barrels a day in the fourth quarter, down from 20 thousand barrels in the same quarter last year. During 2007, gross production of NGLs available for sale decreased to 16 thousand barrels a day, from 24 thousand barrels in 2006, mainly due to the declining NGL content of Wizard Lake gas production.
Gross production of natural gas during the fourth quarter of 2007 decreased to 386 million cubic feet a day from 529 million cubic feet in the same period last year. In the year, gross production was 458 million cubic feet a day, down from 556 million in 2006. The lower production volume was primarily due to decline, as expected, in production from the gas cap at Wizard Lake.
Reserves
Who's Who
T.J. (Tim) Hearn
Chairman, President and Chief Executive Officer, Imperial Oil Limited
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R.L. (Randy) Broiles
Senior Vice-President, Resources Division, Imperial Oil Limited
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P.A. (Paul) Smith
Controller and senior vice-president, Finance and Administration, Imperial Oil Limited
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Offices
Canada
Head Office
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