Canadian Oil Sands lowers guidance for 2014 Syncrude output to 94M barrels

CALGARY – Canadian Oil Sands Ltd. (TSX:COS) says production at the massive Syncrude project north of Fort McMurray, Alta., will come in slightly below the lower end of its October 2014 guidance.

The company, which has a 36.74 per cent stake in Syncrude, says it now expects full-year production of about 94 million barrels, down from what its said was October guidance of between 95 million and 100 million barrels.

The decrease is due to an outage in a sour water treater. Repairs to this unit are expected to be complete by the end of this month, it said Monday.