All financial figures are in Canadian dollars CALGARY, ALBERTA--(Marketwired - Dec. 5, 2016) - Suncor today reports that the Tax Court of Canada has issued a favourable Order resolving the previously disclosed dispute with the Canada Revenue Agency (CRA). The dispute was in regards to the income tax treatment of realized losses in 2007 on the settlement of certain derivative contracts. The Tax Court Order confirms the [...]
All financial figures are in Canadian dollars CALGARY, ALBERTA--(Marketwired - Nov 17, 2016) - Suncor released its 2017 corporate guidance today which includes a capital spending program of between $4.8 billion and $5.2 billion and average production of 680,000 to 720,000 barrels of oil equivalent per day (boe/d). The midpoints of these ranges represent a year over year increase to production of more than 13 per cent [...]
CALGARY, ALBERTA--(Marketwired - Nov 15, 2016) - Suncor today announced the appointment of Michael Creel to the company's board of directors. Mr. Creel's appointment is effective January 1, 2017. "I'm pleased to welcome Michael Creel to the Suncor board of directors," said Suncor board chair, Jim Simpson. "Along with deep business and financial acumen, he brings significant experience in finance, operations, and [...]
All financial figures are in Canadian dollars. CALGARY, ALBERTA--(Marketwired - Nov 14, 2016) - Suncor Energy's Board of Directors has approved a quarterly dividend of $0.29 per share on its common shares, payable Dec. 23, 2016 to shareholders of record at the close of business on Dec. 2, 2016. Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development and upgrading [...]
All financial figures are in Canadian dollars CALGARY, ALBERTA--(Marketwired - Oct 31, 2016) - Suncor Energy today announced it has reached an agreement to sell its Petro-Canada Lubricants Inc. (PCLI) business to a subsidiary of HollyFrontier Corporation (HollyFrontier) for gross proceeds of $1.125 billion, subject to customary closing adjustments. The sale includes PCLI's production and manufacturing centre in [...]
CALGARY, ALBERTA--(Marketwired - Oct 26, 2016) - Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards (IFRS), specifically International Accounting Standard (IAS) 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a [...]
CALGARY, ALBERTA--(Marketwired - Oct. 20, 2016) - Suncor will release its third quarter financial results on Oct. 26, 2016 before 8:00 p.m. MT (10:00 p.m. ET). A webcast to review the third quarter will be held on Oct. 27 at 7:30 a.m. MT (9:30 a.m. ET). Representing management will be Steve Williams, president and chief executive officer and Alister Cowan, executive vice president and chief financial officer. A question [...]
CALGARY, ALBERTA--(Marketwired - Oct 17, 2016) - Suncor and Mikisew Cree First Nation (MCFN) today announced the signing of a participation agreement for the purchase by MCFN of a 14.7% interest in Suncor's East Tank Farm Development. Under the terms of the agreement, MCFN will pay 14.7% of the actual capital cost of the East Tank Farm Development once the assets become operational, which is currently anticipated to be in [...]
CALGARY, ALBERTA--(Marketwired - Oct 6, 2016) - Suncor Energy UK Limited ("Suncor") today announced it has closed the previously announced purchase of a 30 per cent participating interest in the U.K. North Sea Rosebank project from OMV (U.K.) Limited. All necessary regulatory approvals have been received and as per the agreement, Suncor has made an initial payment of US$50 million to OMV (U.K.) Limited. In the event the [...]
All financial figures are in Canadian dollars CALGARY, ALBERTA--(Marketwired - Sep 21, 2016) - Suncor reports that it has been advised by the operator of the Shelburne Basin joint venture exploration project, Shell Canada Limited, that the drilling of the first exploration well has been completed and it is non-commercial. As a result, in the third quarter of 2016 Suncor will write off its share of the cost of the well [...]
CALGARY, ALBERTA--(Marketwired - Sept. 16, 2016) - Suncor today provided an update on its work with Nsolv Corporation to test solvent-based extraction techniques and explore advancing the technology to commercial scale implementation. Suncor will continue to test the Nsolv technology, which uses a solvent in place of steam in current in situ bitumen extraction techniques. Since 2013, Suncor and Nsolv have been working [...]
CALGARY, ALBERTA--(Marketwired - Sept. 8, 2016) - Suncor announced today that it will issue an aggregate of $1.0 billion of senior unsecured Series 5 Medium Term Notes (the "Offering"). The Offering will be conducted in two tranches consisting of $700 million of senior unsecured Series 5 Medium Term Notes maturing on Sept. 14, 2026 (the "2026 Notes") and $300 million of senior unsecured Series 5 Medium Term Notes maturing [...]
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