UPDATE 2-Canadian Natural says it has seen some outages as wildfire rages

Thu May 5, 2016 1:36pm EDT
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* Production could fall to 70,000 bpd if co loses power

* Cuts 2016 production forecast by 7,000 boe/d

* Adj loss of C$0.50/shr vs est loss of C$0.57 (Adds comments from conference call, details)

May 5 (Reuters) - Canadian Natural Resources Ltd said its oil sands operations were stable after some outages due to the massive wildfire raging in the country's energy heartland.

Executives on the company's post-earnings conference call did not specify what the outages were.

The massive wildfire near Fort McMurray in Alberta has prompted companies, including Suncor Energy Inc and Shell Canada, to shutter nearly one-third of the nation's oil sands production and has closed key pipelines.

Canadian Natural's production could go down to 70,000 barrels per day (bpd) if the company's Horizon oil sands project - located just north of Fort McMurray - were to lose power, an executive said on the call.

The company expects to produce 120,000-132,000 bpd from its oil sands operations this year.

Canadian Natural, the country's largest independent petroleum producer, also reported a smaller-than-expected quarterly loss on Thursday, sending its shares up nearly 4 percent in Toronto and New York.   Continued...