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Calgary, Alberta (Nov. 29, 2022) – Suncor Energy (TSX: SU) (NYSE: SU) released its 2023 corporate guidance today.
“Over the past several months, our new mining leadership has done an in-depth review of our assets and developed a multi-year plan that will deliver marked improvements in safety, reliability and operational performance,” said Kris Smith interim president and chief executive officer. “In addition, we will continue to optimize our assets to drive value and future growth in areas that are complementary to our base business.”
Members of the Suncor leadership team will discuss this outlook later today at the Company’s previously scheduled Investor Presentation beginning at 11 a.m. MT / 1 p.m. ET. A webcast of the event will be available at Suncor.com.
|2023 Full Year Outlook|
|November 29, 2022|
|Suncor Total Production (boe/d) (1)||740,000||–||770,000|
|Oil Sands Operations (bbls/d) (2)||385,000||–||425,000|
|Synthetic Crude Oil (bbls/d)||290,000||–||310,000|
|Fort Hills (bbls/d) Suncor working interest of 75.41% (3)||90,000||–||100,000|
|Syncrude (bbls/d) Suncor working interest of 58.74%||175,000||–||190,000|
|Exploration and Production (boe/d) (4)||65,000||–||75,000|
|Suncor Refinery Throughput (bbls/d)||430,000||–||445,000|
|Suncor Refinery Utilization (5)||92%||–||96%|
|Refined Product Sales (bbls/d)||550,000||–||580,000|
|Capital Expenditures (6)|
|(C$ millions)||2023 Full Year|
|November 29, 2022||Investment (8)|
|Upstream Oil Sands||(7)||3,625||–||3,875||30%|
Investment and Asset Sustainment and Maintenance capital expenditures, see the Capital Investment Update section of Suncor’s Management’s Discussion and Analysis for the Third Quarter of 2022 dated November 2, 2022 (the “MD&A”), available at www. sedar.com.
Suncor’s corporate guidance provides management’s outlook for 2023 in certain key areas of the company’s business. Users of this forward-looking information are cautioned that actual results may vary materially from the targets disclosed. Readers are cautioned against placing undue reliance on this guidance.
For more detail on Suncor’s outlook and capital spending plan, see suncor.com/guidance.
For an updated Investor Relations presentation and the third quarter Investor Relations deck, see suncor.com/investor-centre.
For more information about Suncor, visit our web site at suncor.com or follow us on Twitter @Suncor
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