CALGARY, ALBERTA- Suncor today announced that shipments from Syncrude’s oil sands at Mildred Lake resumed following the March 14 incident.
Over the weekend, Syncrude completed the necessary repairs and restart activities to resume pipeline shipments. Shipments are approximately 140,000 barrels / d (gross) and are expected to increase gradually as other units complete activities related to the planned shutdown. Production is expected to return to full capacity in June.
Caution – Forward-Looking Information
This press release contains certain forward-looking information and statements (collectively, “forward-looking statements”) as defined in applicable Canadian and US securities laws. Forward-looking statements in this news release include references to: pipeline shipments that are expected to increase gradually as the other units complete activities related to the planned outage; The expectation that production will return to full capacity in June. Certain forward-looking statements are identified by the use of words such as “should” and similar expressions.
Forward-looking statements are based on the Company’s current expectations, estimates, projections and assumptions based on the information available to it at the time these statements were made and based on the experience of Suncor and its perception of historical trends, including expectations and assumptions about the accuracy of reserves and resource estimates; Commodity prices, interest rates and exchange rates; The return on assets and equipment; Profitability of capital and cost savings; Applicable government laws and policies, including royalty rates and tax laws; Future production rates and the adequacy of budgeted capital expenditures, Implementation of planned activities; The availability and cost of labor and services; The ability of third parties to fulfill their obligations vis-A�-vis Suncor; Timely receipt of regulatory approvals and third-party approvals; The duration of the planned outage; And the time when production should return to full capacity.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some of which are similar to those of other oil and gas companies and others specific to Suncor, including Including the risk that the duration of the planned outage or the time when production would return to full capacity may be longer than expected. Suncor’s actual results could differ materially from those expressed or implied in its forward-looking statements or information; The reader is cautioned not to place undue reliance on it.
Suncor’s MD & A dated April 26, 2017 and its Annual Information Form, Form 40-F and the Annual Report to Shareholders, dated March 1 , 2017, together with other documents filed periodically with the securities regulatory authorities Other material factors that could affect actual results and such factors are incorporated herein by reference. Copies of these documents are available free of charge from Suncor at 150, 6th Avenue SW, Calgary, Alberta T2P 3E3, by e-mail to [email protected] , by calling 1-800-558-9071, By going to suncor. Com / financialreports or by viewing the Company’s profile on SEDAR at sedar.com or EDGAR at sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise its forward-looking information, whether as a result of new information, events Future circumstances or other circumstances.
Suncor Energy is Canada’s largest integrated energy company. Suncor’s operations include the development and upgrading of oil sands, offshore oil and gas production, oil refining and the marketing of Petro-Canada products. As a member of the Dow Jones Sustainability Indices, FTSE4Good and CDP, Suncor is responsible for the responsible use of oil resources and a growing portfolio of renewable energy sources. Suncor is listed on the UN Global Compact 100 and on the Corporate Knights’ Global 100 list. Suncor’s common shares (symbol: SU) are listed on the Toronto and New York Stock Exchanges.
Source: Suncor Energy Inc.