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Stock impact report

Suncor's Alberta Firebag Oil Sands Site Breaks Crude Output Record [Yahoo! Finance]

Suncor Energy Inc. (SU) 
Last suncor energy inc. earnings: 2/5 07:15 pm Check Earnings Report
US:NYSE Investor Relations: suncor.com/investor-centre
Company Research Source: Yahoo! Finance
Owing to the record high production, the site has also been termed as “Rock Star” by the chief executive of the company. With data available from 2018, SU's wells in the area recorded the highest output of 284,000 barrels per day in October. The number also indicates a 14% rise in output compared with September levels. The record growth in production can be attributed to the steam-assisted gravity drainage oil sands well site, called Firebag, where the total output rose to an all-time high of 251,000 barrels per day, showcasing a 2% hike in production. Firebag can be seen as a key asset for the company which can offset the decline in output from other mature assets. This site has the capability to replace the loss of 30% of its production when the company's Base Plant oil sands mine's life is anticipated to run out in about next 10 years and an approval to extend the mine's life was not granted by the federal government. With the Firebag oil sands site, the company has been able t Show less Read more
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