Page 39 - AIF - English

Notes to Reserves Data Tables

as at December 31, 2013

(1) See the Notes to Future Net Revenues Tables discussion (b) in relation to wells, the number of wells obtained by

for information on forecast and constant prices
aggregating Suncor’s working interest in each of the
and costs.
company’s gross wells; and

(2) Reserves data tables may not add due to rounding.
(c) in relation to Suncor’s interest in a property, the total

(3) Other International includes quantities of crude oil in area in which Suncor has an interest multiplied by the
working interest owned by Suncor.
Libya, which are expected to be produced under EPSAs.
Under these EPSAs, net proved and probable reserves
Reserves Categories
have been determined using the economic interest
method. See the Definitions for Reserves Data Tables.
The oil, NGL and natural gas reserves estimates presented
are based on the definitions and guidelines contained in
(4) SCO reserves figures include the company’s diesel sales
the Canadian Oil and Gas Evaluation (COGE) Handbook. A
volumes.
summary of those definitions is set forth below.

(5) Includes associated and non-associated gas (combined).
Reserves are estimated remaining quantities of oil and

(6) Extensions and Improved Recovery are additions to the natural gas and related substances anticipated to be
reserves resulting from step-out drilling, infill drilling recoverable from known accumulations, as of a given date,

and implementation of improved recovery schemes. based on analyses of drilling, geological, geophysical and
Negative volumes for probable reserves result from the engineering data, the use of established technology, and

initial recognition of proved reserves for reserves specified economic conditions, which are generally
previously assigned as probable reserves.
accepted as being reasonable.

(7) Technical Revisions include changes in previous Reserves are classified according to the degree of certainty

estimates resulting from new technical data or revised associated with the estimates:
interpretations.
Proved reserves are those reserves that can be estimated
(8) Discoveries are additions to reserves in reservoirs where with a high degree of certainty to be recoverable. It is likely

no reserves were previously booked.
that the actual remaining quantities recovered will exceed
the estimated proved reserves.
(9) Economic Factors are changes due primarily to price
forecasts, inflation rates or regulatory changes.
Probable reserves are those additional reserves that are

less certain to be recovered than proved reserves. It is
Definitions for Reserves Data Tables
equally likely that the actual remaining quantities recovered

In the tables set forth above and elsewhere in this AIF, the will be greater or less than the sum of the estimated
following definitions and other notes are applicable:
proved plus probable reserves.

Gross means:
Other criteria that must also be met for the categorization

(a) in relation to Suncor’s interest in production, reserves of reserves are provided in the COGE Handbook.

and contingent resources, Suncor’s working interest Proved and probable reserves categories may be divided
(operated and non-operated) share before deduction of into developed and undeveloped categories:

royalties and without including any royalty interests
Developed reserves are those reserves that are expected
of Suncor;
to be recovered (i) from existing wells and installed facilities
(b) in relation to wells, the total number of wells in which or, if facilities have not been installed, that would involve a

Suncor has a working interest; and
low expenditure (for example, when compared to the cost
of drilling a well) to put the reserves on production, or
(c) in relation to properties, the total area of properties in
which Suncor has an interest.
(ii) through installed extraction equipment and
infrastructure that is operational at the time of the reserves
Net means:
estimate, if the extraction is by means not involving a well.
(a) in relation to Suncor’s interest in production, reserves The developed category may be subdivided into producing
and non-producing.
and contingent resources, Suncor’s working interest
(operated and non-operated) share after deduction of (a) Developed producing reserves are those reserves that

royalty obligations, plus the company’s royalty interests are expected to be recovered from completion intervals
in production, reserves or contingent resources;
open at the time of the estimate. These reserves may

be currently producing or, if shut in, they must have

SUNCOR ENERGY INC. ANNUAL INFORMATION FORM 2014 37