May 16, 2011 / 5:48 PM / in 6 years

UPDATE 1-Penn West shuts in up to 40,000 bpd of oil

CALGARY, Alberta, May 16 (Reuters) - Penn West Petroleum Ltd PWT.TO has shut in as much as 40,000 barrels per day of oil production due to wildfires in Alberta and flooding in Manitoba, Bill Andrew, the company’s chief executive, said on Monday.

Most of the lost production is from Penn West’s properties in northern Alberta, where wildfires whipped by high winds destroyed a third of a town, closed a major pipeline and forced Penn West and other producers to shut in tens of thousands of barrels of oil production.

“We’ve got some shut in for flooding but probably in the order of 25,000 to 30,000 barrels” shut in because of the fires, he said.

Andrew said all the company’s employees are safe. (Reporting by Scott Haggett; editing by Peter Galloway)

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