Page 3 - Suncor 360 - September 2014 - English

01

CONTENTS
SEPTEMBER 2014
360

IN THIS ISSUE:
12
Simply Steve – 02
Let’s get adept at adapting
News – Q2 at a glance 03

Quick bites – News from around the business 04

News – Changing safety, one step at a time 07

News – Fatality indings released 08

News – Engaging results 10

Feature – How adaptable are you? 11

Feature – A company of a different colour 12

Feature – Suncor, you’ve changed 14

Feature – Councils to tame trafic 16

Feature – Managing change on the front lines 18

Feature – Fail forward to move forward 19 ON THE COVER:
Our strategy is
Feature – Heads up and eyes wide open 20 chameleon-like

Feature – Agents of change 22

Feature – Process improvement ramps up 23

Feature – Aboriginal suppliers evolve

alongside Suncor 24
16 20
You do what? – He’s a people engineer 26

Six degrees of separation – Courage and
heart personiied 27

Events and deadlines 28
24
Full circle – Listen to your parents 29

360

Suncor Energy Inc. Employee Communications
PO Box 2844, 150 – 6 Avenue S.W.

Calgary, Alberta T2P 3E3
Toll Free: 1-866-SUNCOR-1

Website: suncor.com

360 editor
Guy DeSantis, 403-296-3748

360@suncor.com
Printed in Canada.

Information in this publication is current as of August 15, 2014.
Advisories
Forward-Looking Statements – – Suncor’s 360 publication contains certain forward-looking statements and information (collectively, “forward-looking statements”), including statements about Suncor’s strategies and goals, that are based on Suncor’s current
expectations, estimates, projections and assumptions that were made by Suncor in light of its experience and its perception of historical trends. Some of the forward-looking statements may be identiied by words such as “objective”, “targets”, “estimates”, “anticipated”, “plans”, “goal”, “vision”, “strategy”, “expects”, “proposed”, “intention”, “continue”, “may“, ”will”, “outlook”, “opportunity”, “pursuing”, “illustrative” and “projected” and similar expressions. All forward-looking statements are based on Suncor’s current expectations,
estimates, projections and assumptions that were made by the company in light of its experience and its perception of historical trends including: expectations and assumptions concerning the accuracy of reserve and resource estimates; commodity prices and interest and
foreign exchange rates; capital eficiencies and cost-savings; applicable royalty rates and tax laws; future production rates; the suficiency of budgeted capital expenditures in carrying out planned activities; and the availability and cost of labour and services. Forward- looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to our company. Forward-looking statements in this publication include those,
or those related to: the commissioning of a new water treatment plan that is expected to increase the reuse and recycling of wastewater and reduce Suncor’s draw on fresh water; the Golden Eagle project in the North Sea, which is expected to have irst oil in late 2014
or early 2015; and work on the Hebron offshore project on the Canadian East Coast, which is expected to have irst oil in 2017. Suncor’s actual results may differ materially from those expressed or implied by our forward-looking statements and you are cautioned not to place undue reliance on them. Suncor’s Earnings Release and Quarterly Report for the second quarter of 2014 (“Q2 Report”), and its Annual Information Form/Form 40-F, Annual Report to Shareholders (“Annual Report”) and other documents it iles from time to time
with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could inluence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge from Suncor at
150 6th Avenue S.W., Calgary, Alberta T2P 3Y7, by calling 1-800-558-9071, or by email request to info@ suncor.com or by referring to the company’s proile on SEDAR at www.sedar.com or EDGAR at www.sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Non-GAAP Measures – Certain inancial measures in this 360 report – namely cash low from operations (“CFOPS”), oil sands cash operating costs and operating earnings – are not prescribed by Canadian generally accepted accounting principles (“GAAP”). CFOPS,
oil sands cash operating costs and operating earnings are deined and reconciled to GAAP measures in the Non-GAAP Financial Measures Advisory section of the Q2 Report. These non-GAAP inancial measures are included because management uses the information to analyze operating performance, leverage and liquidity. These non-GAAP inancial measures do not have any standardized meaning and, therefore, are unlikely to be comparable to similar measures presented by other companies and should not be considered in isolation
or as a substitute for measures of performance prepared in accordance with GAAP.
BOEs – Certain natural gas volumes have been converted to barrels of oil equivalent (boe) on the basis of one barrel to six thousand cubic feet. Any igure presented in boe may be misleading, particularly if used in isolation. A conversion ratio of one bbl of crude oil or
natural gas liquids to six thousand cubic feet of natural gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is signiicantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.