Suncor Energy reports oil sands production numbers for February 2009
Calgary, Alberta (March 2, 2009) — Suncor Energy Inc. reported today that production at its oil sands facility during February averaged approximately 300,000 barrels per day (bpd). Year-to-date oil sands production at the end of February averaged approximately 279,000 bpd. Suncor is targeting average oil sands production of 300,000 bpd (+5%/-10%) in 2009.
Reported production now includes third-party bitumen volumes. Sales of products include diesel, sweet and sour synthetic crude oil, and non-upgraded bitumen sold directly to the market.
On a monthly basis, Suncor reports production numbers from its oil sands operation in order to provide stakeholders with a more timely review of operational performance. These numbers are preliminary and subject to adjustment. Monthly totals may differ from year-to-date total due to rounding, the impact of sales and changes in inventory. Production volumes will be confirmed when Suncor's first quarter results are released on April 23, 2009.
This news release contains forward-looking statements, including an outlook production range of
+5%/-10%, which are based on Suncor's current expectations, estimates, projections and assumptions and are subject to change. Assumptions are based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors related to Suncor's business. Assumptions of the 2009 outlook include implementing reliability and operational efficiency initiatives which we expect to minimize unplanned maintenance in 2009. Readers are cautioned that actual results could differ materially from those expressed or implied as a result of changes to Suncor's plans and the impact of events, risks and uncertainties discussed in Suncor's fourth quarter earnings release, current annual information form/form 40-F, annual report to shareholders and other documents filed with Canadian securities commissions at www.sedar.com and the UnitedStates Securities and Exchange Commission (SEC) at www.sec.gov.
Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray, Alberta, extracts and upgrades oil sands and markets refinery feedstock and diesel fuel, while operations throughout Western Canada produce natural gas. Suncor operates a refining and marketing business in Ontario with retail distribution under the Sunoco brand. U.S.A. downstream assets include refining operations in Colorado and retail sales in the Denver area under the Phillips 66® brand. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges. Sunoco in Canada is separate and unrelated to Sunoco in the United States, which is owned by Sunoco Inc. of Philadelphia. Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Phillips 66® brand and marks in the state of Colorado.
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For more information about Suncor Energy Inc. please visit our web site at www.suncor.com.
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