Suncor Energy Inc. is assessing damage following a fire at one of the company's two oil sands upgraders north of Fort McMurray, Alberta. The fire occurred at approximately 10 a.m. December 15 and was extinguished within an hour. There were no injuries and no environmental impacts related to the incident. Appropriate authorities and regulators have been informed.
Preliminary reports show no structural damage to the facility and the company currently expects repairs to take between two and four weeks. During the repair period, production is expected to be reduced by approximately 120,000 to 150,000 barrels per day (bpd). Suncor does not expect the incident to impact 2009 production outlook of between 290,000 and 305,000 bpd.
This news release contains forward-looking statements, including our outlook production range and preliminary assessment of the duration of the repair period, which are based on Suncor's current expectations, estimates, projections and assumptions and are subject to change. Assumptions are based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors related to Suncor's business. Readers are cautioned that actual results could differ materially from those expressed or implied as a result of our ongoing assessment of repair plans and the impact of events, risks and uncertainties discussed in Suncor's most recent earnings release, current annual information form/form 40-F, annual report to shareholders and other documents filed with Canadian securities commissions at www.sedar.com and the United States Securities and Exchange Commission (SEC) at www.sec.gov.
Suncor Energy Inc. is Canada's premier integrated energy company. Suncor's operations include oil sands development and upgrading, conventional and offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand - a proud National Partner to the Vancouver 2010 Olympic and Paralympic Winter Games. While working to responsibly develop petroleum resources, Suncor is also developing a growing renewable energy portfolio. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.