CALGARY, July 7 /PRNewswire-FirstCall/ -- Suncor Energy Inc. reported today that production at its oil sands facility during June averaged approximately 306,000 barrels per day (bpd). Year-to-date oil sands production at the end of June averaged approximately 289,000 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 second quarter results are released on July 22, 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 http://www.sedar.com/ and the United States Securities and Exchange Commission (SEC) at http://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 also operates a refining and marketing business which includes refining, retail, pipeline and distribution operations in Ontario, Canada and in Colorado and Wyoming in the United States. 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.
Suncor Energy Inc.
CONTACT: about Suncor Energy Inc. please visit our web site at
http://www.suncor.com/. For media inquiries, contact: Shawn Davis, (403) 920-8379
