Page 3 - Suncor 360 - January 2015

CONTENTS
IN THIS ISSUE:
Simply Steve – We’re navigating these
uncertain times 02
Quick bites – News from around the business 03 News – PIP enters the home stretch 06 Feature – It’s goal time 07 Feature – Six stories to watch for in 2015 08 Feature – What is the biggest issue for the
energy industry in 2015? 12 You do what? – Shooting the breeze with a
wind expert 17 Feature – Make way for ADEM 18 Feature – Fen-omenal progress 20 POEA – A resourceful bunch in In Situ Resources 22 Events and deadlines 24 In the Know – “Just shut it down” 25
360
Suncor Energy Inc. Employee Communications PO Box 2844, 150 – 6 Avenue S.W.
Calgary, Alberta T2P 3E3
Toll Free: 1-866-SUNCOR-1
ON THE COVER:
Wondering what to watch for in 2015? See P. 8.
08
17
20
Website: suncor.com
360 editor
Guy DeSantis, 403-296-3748 360@suncor.com
Information in this publication is current as of December 14, 2014
Advisories
Printed in Canada.
22
Forward-Looking Statements – Suncor’s 360 publication contains certain forward-looking statements and information (collectively, “forward-looking statements”) within the meaning of Canadian and U.S. securities laws. Some of the forward-looking statements may be identified by words such as “objective”, “targets”, “estimated”, “anticipate”, “plan”, “goal”, “strategy”, “expect”, “intended”, “continue”, “may“, “will”, “outlook”, “opportunity”, “illustrative”, “projected”, “focusing”, “aim”, “potential” 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 efficiencies and cost-savings; applicable royalty rates and tax laws; future production rates; the sufficiency 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 references to: Suncor’s strategy, which was designed for circumstances where Suncor can buffer the volatile commodity pricing market with an integrated business model that generates revenue at every stage of the value chain; Suncor’s position because of its strong balance sheet; the expectation that Suncor can weather the storm; COSIA’s and Suncor’s environmental goals; and the Fort Hills mine project, which is expected to have a mine life that will span decades, yield an average of 180,000 barrels of bitumen per day and have first oil as early as the fourth quarter of 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 third quarter of 2014 (the “Q3 Report”), and its most recently filed Annual Information Form/Form 40-F, Annual Report to Shareholders and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence 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 profile 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.
Barrels of Oil Equivalent – Certain natural gas volumes in this edition of 360 have been converted to barrels of oil equivalent (boe) on the basis of one barrel to six thousand cubic feet. Any figure 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 significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.
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