Connacher Oil and Gas continues to struggle despite better fourth quarter numbers.
Revenue for the company rose 28 percent but that was mostly because of higher prices and better American output.
Oil sands production for Connacher was down from about 13,300 barrels per day in fourth quarter 2010 to about 13,100 in 2011.
Overall production for the company went down 10 percent, leading to a fourth quarter loss of fifty nine million dollars.
The company expects to get a 24,000 BPD expansion of its Great Divide oilsands project approved this year.
Published March 19, 2012
