Bloomberg News

Suncor 2012 Oil Sands Output at ‘Lower End’ of Guidance Range

December 06, 2012

Suncor Energy Inc. (SU) said 2012 Alberta oil sands production is expected to fall into the lower part of its guidance range after unplanned maintenance last month curtailed output.

Oil sands production, which includes upgraded sweet and sour synthetic crude and non-upgraded bitumen, will be at the lower end of the average 325,000 to 340,000 barrels a day of output projected Oct. 31 for this year, the company said in a statement.

November output averaged 312,000 barrels a day. The company’s base oil sands plant was producing more than 380,000 barrels a day at the end of last month after maintenance issues were resolved, the company said.

The volumes don’t include Suncor’s production share from the Syncrude Canada Ltd. joint venture.

Suncor’s Firebag complex, an in-situ steam-assisted gravity drainage operation, was producing about 130,000 barrels a day at the end of November, the statement showed.

Total production is expected to be within the projected range of 540,000 to 580,000 barrels of oil equivalent a day.

To contact the reporter on this story: Aaron Clark in New York at aclark27@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


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