Suncor Energy Inc.

P.O. Box 2844
150 - 6 Avenue S.W.
Calgary, AB
CA, T2P 3E3

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Suncor reports $1.31 billion earnings in fourth quarter 2017

Suncor reports $1.31 billion earnings in fourth quarter 2017

Suncor recorded fourth quarter 2017 operating earnings of $1.310 billion ($0.79 per common share) compared to $636 million ($0.38 per common share) in the prior year quarter. Highlights of the quarter include improved crude oil pricing and benchmark crack spreads, lower operating and exploration costs, refinery utilization of 94%, higher sales volumes at Oil Sands and continued strong upstream production. Improved benchmark pricing in the quarter was partially offset by the strengthening of the Canadian dollar.

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Transportation

Suncor to proceed with autonomous haul truck fleet at oil sands mines

Oil sands producer Suncor has announced it will proceed with the phased implementation of autonomous haulage systems (AHS) at company-operated mines, starting with the North Steepbank mine. Over the next six years, the company expects to deploy more than 150 autonomous haul trucks in the full program, which will be one of the largest investments in electric autonomous vehicles in the world.

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Drilling & Production
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Suncor reports strong fourth quarter 2017 in business update

A mining truck and shovel at Suncor's Fort Hills facility. Photo courtesy Suncor.

Suncor provided a business update for the fourth quarter of 2017, highlighting upstream production of 736,000 barrels of oil equivalent per day (boe/d), which is in line with record production from the third quarter of 2017. Oil sands operations produced approximately 447,000 barrels per day (bbls/d) including 6,000 bbls/d from Fort Hills. Syncrude produced 325,000 bbls/d for the quarter, 174,000 bbls/d net to Suncor. Production from other upstream assets remained solid with total production from Exploration & Production assets in Canada, the U.K. and Libya of 115,000 boe/d.

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Environmental
Industry News

Cogeneration plan begins for Suncor oil sands plant

Coker towers at Suncor's oil sands plant; the company hopes to replace two coke-fired boilers with cogen facilities.

Suncor has taken its first steps in the regulatory process to replace coke-fired boilers with two cogeneration units at its Oil Sands Base Plant as a part of its plan to remain globally cost and carbon competitive. In addition to providing the facility with steam needed for its operations, the cogeneration units are expected to export approximately 700 megawatts (MW) of electricity to the provincial grid, equivalent to roughly seven per cent of Alberta's current electricity demand.

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