July 18, 2011 / 1:38 PM / in 6 years

UPDATE 1-Southern Pacific Q4 output up on higher oil prices

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July 18 (Reuters) - Canada’s Southern Pacific Resource Corp posted a 34 percent rise in sequential production, buoyed by strong oil prices and improved performance at its Saskatchewan thermal project.

April-June production was 4,915 barrels of oil equivalent per day (boe/d), up from 3,663 boe/d in the previous quarter.

Petroleum and natural gas revenue before royalties was $30.7 million for the fourth quarter, compared with $18.8 million in the previous quarter.

The Calgary-based thermal heavy oil and bitumen producer expects to maintain production at its Senlac project in Saskatchewan between 4,000 and 5,000 barrels per day for the next 10-14 years, it said in a statement.

Shares of the company were trading at C$1.56 on Monday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Joyjeet Das)

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