Devon Trims Oil Output, Cites Pipeline Problems
December 09 2010 - 3:30PM
Dow Jones News
Devon Energy Corp. (DVN) on Thursday said it would curtail
production from crude-producing fields in Canada by 10,000 barrels
a day through year's end because of outages in Enbridge Energy
Partners LP's (EEP) pipeline system.
Some of Devon's customers have been forced to trim orders from
the Oklahoma City oil and gas producer because they say the amount
of crude delivered by Enbridge has been reduced, Devon spokesman
Chip Minty said.
The total impact to Devon's expected fourth quarter Canadian
output is estimated at 300,000 barrels, Devon said Thursday. That's
about 0.5% of Devon's anticipated company-wide production and
primarily effects the company's Jackfish oil sands project and one
other field.
"It's not a material amount," Minty said.
Enbridge did not immediately respond to a request for comment on
Thursday.
Calgary, Alberta-based Enbridge was hurt this summer by leaks on
two of its pipelines. In July a leak in the company's 6B line
between Griffith, Ind., and Sarnia, Ontario, dumped 19,500 barrels
of crude into Michigan's Kalamazoo River. Two months later
Enbridge's 6A pipeline spilled 9,000 barrels in Romeoville,
Ill.
Shares of Devon traded down 1% at $72.45 on Thursday. Enbridge
shares were up 0.4% at $60.97.
-By Ryan Dezember, Dow Jones Newswires; 713-547-9208;
ryan.dezember@dowjones.com
-Benjamin Lefebvre in Houston contributed to this article.
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