Canadian Natural Resources July '13 oil sands field leak continues

|About: Canadian Natural Resources,... (CNQ)|By:, SA News Editor

The leak at Canadian Natural Resources' (CNQ -0.5%) Primrose field in the Alberta oil sands continues to seep bitumen crude at "a low rate" six months after it started, CNQ CEO Steve Laut says while expecting to halt the leak soon.

The Primrose field was hit by a second incident at the start of this year, when 27K liters of bitumen were accidentally released underground; that release has since been stopped, but ~1M liters of bitumen have leaked since July 2013.

Also, Laut says he expects CNQ to increase production by ~9% in 2014 to 711K-757K boe/day; ~75% of the company's production is oil.

This was corrected on 01/14/2014 at 05:16 PM. Original Reuters link contained errors which were reiterated in the Seeking Alpha blog post - copy has been rewritten and linked to new, corrected Reuters story.