Page 5 - Suncor 360 - September 2014 - English

03

NEWS
SEPTEMBER
2014
360

North America Norway
Onshore
Beta Golden Eagle
Stavanger
Buzzard
Oil Sands
Edmonton
Aberdeen
East Coast Canada
United Kingdom St. John’s
White Rose Joslyn
Mississauga Montreal
Hebron/Ben Nevis
Calgary
Hibernia
Terra Nova
Fort Hills Sarnia
MacKay Firebag
Denver/
TripoliRiver
Syncrude
Commerce City
Libya
Steepbank /
Millennium

Fort McMurray

Head office Non-operated
Regional office Proposed

Operated

Q2 AT A GLANCE

Financial and operating results for the second quarter of 2014 were released July 30. We generated

cash llow from operations* of $2.4 billion, reduced oil sands cash operating costs per barrel* and

announced another dividend increase.

We also announced that capital spending projections for 2014 would be reduced by $1 billion to $6.8 billion without compromising
growth plans. The savings will come from slowing spending on Joslyn and eliminating lower-priority capital projects.

Steve Williams, president and CEO, began his report to shareholders by expressing the company’s resolve to identify and eliminate

root causes that led to iive worker fatalities in the iirst half of the year.

What happened across our operations.

Oil Sands & In Situ
O O i i l l S S a a n n d d s s V Ve e n n t t u u r r e e s s
R R e e ii n n i i n n g g & & M M a a r r k k e e t t i i n n g g

• Averageproduccttioionnooff337788,8,000babrarrerleslpser
• Engineering and procurement for the Fort • R&M successfully completed planned
pdaeyr d(babyls(/bdb),lsc/odm),pcaormedpawrietdh 2w7i6th,620076b,a6r0r0els FHoilrlts Hmiilnlsinmginpirnogjepcrtonjecatrendeatrhed5t0heper maintenance at the Montreal and Edmonton

pbearrdealsypinerQd2a2y0i1n3Q. T2h2e0g1a3i.nTshweegreaipnasrtwiaellrye c5e0nptemr acerkntdmurainrkg dthuerinqguatrhterq–uawrhteicrh– is on rEedimnoenriteosn. reineries.
pofafrsteitalbly opflafsnentebdyapnldanunepdlaanndedumnpalianntenneadnce swchiecdhuilseo–nasncdhewdiullleco–natinduewitlhl rcoungtihnu2e015.
imnauipngterandaincgeainduepxgtradctiinognandeaxntroancgtioing through 2015.
• Montreal is averaging 36,000 barrels per day
tahnidrda-pnaortnygpoipineglintheiordu-tpaagret.y pipeline outage.
• Coker maintenance decreased our share of of lower-cost inland crude, at an average
• SCyonkcerrumdeaipnrtoednuacntcioendteocr2e4a,s3e0d0obubrls/hdafrreoomf cost reduction of $7 per barrel over previous
• Results werreaidideeddbbyyaasusuccecsessfsuflupl rpordoudcuticotinon S3y2n,8c0ru0dbebplsr/oddinucQti2on20t1o32. 4,300 bbls/d from
offshore supplies.

ramp-up andssttrronnggininiillllwweelllpl eprefrofromrmanacnecaet 32,800 bbls/d in Q2 2013.
FaitreFbiraegb.ag.
Exploration & Production • Maintenance work temporarily reduced
Exploration & Production
Suncor’s reiinery utilization rate to
• Cash operattiingccoosstts*s*ddeeclcilninededtoto$3$43.41.010 • E&P volumes declined to 115,300 barrels 85 per cent, down from 90 per cent in
per barrellffrrom$$4466.5.55ininththeeprperveivoiuosu-ys-eyaerar the prior-year quarter.
quarter,, prriimarriliylyfrforompprorodduuctcitoinongagianisn. s.
• Eo&f Poivl oelquumiveaslednetclpineerdatoy 1in15Q,230201b4arfrreolsm
1o9f0o,i7l0e0quinivQal2en20t1p3erindlaigyhint oQf2th20e1s4alferomf * Cash low from operations, oil sands cash operating
c1o9n0v,7e0n0tiionnQal2n2a0t1u3railnglaigshatssoefttshaensdatleheof costs and operating earnings are non-GAAP Measures.
• Commissiioniingoffaanneewwwwaateter rtrteraetamtmenetnt schountv-eintoiofnLaiblynantuprraoldguacstiaosnsedtsueantdotphoelitical PleaseseetheAdvisoriessectiononP.1.
plantinQ2iisseexxppeeccteteddtotoinincrceraesaesethtehereruesuese tsuhrumt-oinil.of Libyan production due to
and recyclliingoffwaastsetewwaateter rananddrerdeudcueceouorur political turmoil.
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• The Golden Eagle project in the North Sea
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• COSIAandiindussttrryyppaartrntneersrsapaprporvoevded • iTshaepGporoldaechninEgagilerspt roiljeinctlianteth2e01N4orotrheSaeraly
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Firebag operations.
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and other important
of our executive leadership
oCialneaxdpieacnteEdasitnC2o0a1s7t.is proceeding, with irst Suncor issues.
team on the Q2 results
oil expected in 2017.
Go to the Core > Videos.
and other important
Suncor issues.
Go to the Core > Videos.