Suncor Energy Reports Oil Sands Production Numbers for July 2009
CALGARY, ALBERTA--(Marketwire - Aug. 6, 2009) - Suncor Energy Inc. reported today that production at its oil sands facility during July averaged approximately 304,000 barrels per day (bpd). Year-to-date oil sands production at the end of July averaged approximately 292,000 bpd. Suncor is targeting average oil sands production of 300,000 bpd (+5%/-10%) in 2009.
In addition to Suncor's proprietary production of sweet and sour synthetic crude oil, diesel and non-upgraded bitumen sold directly to the market, reported production also includes products derived from bitumen received from Petro-Canada for processing on a fee-for-service basis.
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 third quarter results are released.
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 prior to the merger on August 1, 2009 with Petro-Canada. 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 United States Securities and Exchange Commission (SEC) at www.sec.gov. Energy Inc. is Canada's premier integrated energy company. Suncor's operations include oil sands development and upgrading, conventional and offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand - a proud National Partner to the Vancouver 2010 Olympic and Paralympic Winter Games. While working to responsibly develop petroleum resources, Suncor is also developing a growing renewable energy portfolio. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Shell(R) and Phillips 66(R) brand and marks in the state of Colorado. Sunoco in Canada is separate and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc. of Philadelphia.
For more information please contact:Media inquiries:
Renee Kelly, Suncor Energy Inc.