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Suncor Energy Inc (SU.N)

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Latest Key Developments (Source: Significant Developments)

Suncor looking at more opportunities for oil sands consolidation
Thursday, 27 Apr 2017 10:39am EDT 

April 27 (Reuters) - Suncor Energy :CEO says continues to evaluate opportunities to consolidate in oil sands, but bar for acquisitions is high..Says cost of repairs at Syncrude oil sands plant to be relatively small for Suncor as covered by insurance..Says leak that led to fire at Syncrude plant was caused by freeze-thaw crack in a pipeline, a one-off event not expected to affect future reliability..CEO says does not see company's organic oil sands growth projects going ahead in next year or two..Says from May 2 company will be in the market buying its stock back as part of announced share buy-back plan..CEO says the exodus of big international companies from Canada's oil sands is not quite finished yet..CEO says could be some incredible opportunities for Suncor as big companies exit oil sands, not many potential buyers have Suncor's strong balance sheet..CEO says no major asset sales planned currently..CEO says sees low probability of Canadian energy being included in U.S. trade tariffs, but consequences would be serious for U.S. consumer..  Full Article

Suncor Energy sets quarterly dividend of C$0.32 per share
Wednesday, 26 Apr 2017 06:15pm EDT 

April 26 (Reuters) - Suncor Energy Inc :Suncor Energy Inc sets quarterly dividend of C$0.32per share.  Full Article

Suncor Energy provides update on Syncrude return to service plan
Wednesday, 19 Apr 2017 06:00pm EDT 

April 19 (Reuters) - Suncor Energy Inc ::Suncor Energy provides update on syncrude return to service plan.Suncor Energy Inc - plant is currently operating at reduced rates and Suncor will continue to assist in inventory management.Suncor Energy Inc - investigation and inspection show that damage was largely isolated to a piperack adjacent to hydrotreater.Suncor Energy Inc - provided an update on syncrude mildred lake oil sands facility following march 14 incident.Suncor Energy Inc - does not expect this outage to result in a change to overall production guidance for 2017.Suncor Energy Inc - production is expected to return to full rates by end of June.Suncor Energy Inc - "accelerated repair schedule" has been developed to achieve restart of pipeline shipments at about 50% capacity in early may.  Full Article

Suncor Energy provides update on Syncrude recovery plan
Monday, 27 Mar 2017 06:30am EDT 

Suncor Energy Inc : Suncor Energy provides update on Syncrude recovery plan . Suncor Energy provides update on Syncrude recovery plan . Suncor Energy Inc - planned maintenance advanced to minimize outage impact . Suncor Energy Inc - no change expected to overall Suncor annual production guidance . Suncor Energy Inc - pipeline shipments of treated product are expected to resume at up to 50pct capacity in april . Suncor Energy Inc - pipeline shipments of treated product are expected to resume at up to 50pct capacity in April . Suncor Energy Inc says has advanced planned eight-week turnaround originally scheduled to begin in April to mitigate impact of unplanned outage .Suncor Energy Inc - beginning this week, suncor expects to handle volumes of untreated syncrude production to assist in managing inventory.  Full Article

Suncor says Syncrude Canada site at minimum rates after fire
Wednesday, 15 Mar 2017 06:17pm EDT 

Suncor Energy :Says Syncrude facility in Canada's Alberta running at minimum rates after fire.  Full Article

Syncrude says fire under control but still burning at oil sands site
Wednesday, 15 Mar 2017 04:32pm EDT 

Syncrude Canada says: Fire at oil sands plant the result of a line failure that caused a treated naphtha leak . Fire remains isolated and controlled as of Wednesday afternoon . Remainder of oil sands operation remains in safe and stable condition . Once safe to proceed company will conduct complete damage assessment and begin repairs Further company coverage: [SU.TO] (Reporting By Nia Williams) ((nia.williams@thomsonreuters.com;)).  Full Article

Suncor Energy announces redemption of notes
Monday, 27 Feb 2017 06:00pm EST 

Suncor Energy Inc : Suncor Energy announces redemption of notes . Suncor Energy Inc - redeeming its outstanding US$1.25 billion 6.10% senior unsecured notes due 2018 . Suncor Energy Inc - redemption date will be April 26, 2017 and redemption price will be paid in accordance with indenture governing notes .Suncor Energy Inc- redemption of notes will be largely funded from proceeds of suncor's asset divestments realized earlier in 2017.  Full Article

Teck updates Fort Hills guidance
Wednesday, 8 Feb 2017 08:54pm EST 

Teck Resources Ltd : Teck updates Fort Hills guidance . Teck Resources- Suncor provided an update regarding its recently completed review of schedule, project costs and throughput . Teck-Suncor advises that review, at this stage of project development, provides high degree of confidence on schedule and project costs to completion . Teck Resources - Project remains on track to produce first oil in late 2017 . Teck Resources - Revised total project capital forecast is approximately 10% above project sanction estimate, excluding foreign exchange impacts . Teck-Co's share of project capital costs until completion as of dec 31, 2016, now expected to be $805 million, of which about $640 million to be spent in 2017 . Teck-Due to increase in capital cost, teck will record an after-tax impairment charge of $164 million in its q4 results . Teck Resources - Oil production from first of three secondary extraction units is still expected by end of 2017 . Teck Resources - Suncor is also exploring opportunity to reduce ramp-up period . Teck Resources - Suncor has announced an 8% increase in nameplate capacity to 194,000 barrels per day . Teck Resources - Co anticipates an average production rate of 186,000 barrels per day over life of project.  Full Article

Suncor Energy reports Q4 earnings per share C$0.32
Wednesday, 8 Feb 2017 08:10pm EST 

Suncor Energy Inc : Suncor Energy reports fourth quarter 2016 results . Q4 FFO per share C$1.42 . Oil sands operations cash operating costs per barrel decreased to $24.95 for Q4 of 2016 from $28.00 in prior year . Suncor Energy - Suncor's total upstream production of 738,500 boe/d in Q4 of 2016, compared with 582,900 boe/d in prior year quarter . Qtrly average refinery crude throughput was 427,300 bbls/d compared with 430,200 bbls/d in prior year quarter . There have been no changes to corporate guidance ranges previously issued on November 17, 2016 . Qtrly earnings per share C$0.32 . Suncor Energy Inc - Oil sands operations production of 433,400 bbls/d in Q4 of 2016, a slight decrease from 439,700 bbls/d in prior year quarter .Cost reduction efforts have resulted in significant savings in year, well exceeding targets set out in early 2016.  Full Article

Suncor Energy sets quarterly dividend of C$0.32 per share
Wednesday, 8 Feb 2017 07:34pm EST 

Suncor Energy Inc :Sets quarterly dividend of C$0.32per share.  Full Article

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Canada's Suncor prepares oil sands growth as global majors exit

CALGARY, Alberta Even as the world's largest energy companies exit Canada's high-cost oil sands the country's top producer Suncor Energy is lining up its next phase of growth in the world's third largest crude reserves.