RE:March Production Guidance document estimated 27 million barrels vs actual of 26.3. The shortfall of 700,000 BO over the first quarter should be able to be made up over the next three quarters. I do wish COS would explain the production variances, I suppose we will hear about that when q1 results are released. The production shortfall is only 2.5% for the quarter but it is disturbing. The really good news is that the oil price is 23% or ~C$ 20/ BO higher than guidance.
I assume that whatever held back production in Feb. and March will be remedied in Q2.
We will see how the stock trades tomorrow, does the street focus on the terrific oil price or ding COS for not meeting or exceeding q1 production target.