Suncor Energy Inc. T.SU

Still INTERESTING In Getting 31.23% of Fort Hills From TOTAL

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Update on acquisition of TotalEnergies’ Canadian operations. Following ConocoPhillips Canada exercising its pre-emptive right to purchase the 50% working interest in the Surmont in situ asset, Suncor is continuing to evaluate the transaction to acquire the remainder of TotalEnergies’ Canadian operations, including the remaining 31.23% working interest in Fort Hills.

- it is fascinating that the IN-SITU Firebag SAGD has the GREATEST SU bitumen RESERVES and they are ONLY OPERATING at a 215,000 bbls/d BOP and part of it's output FEEDS into the SU Base plant UPGRADER

- Cenovus Enegry Chistina Lake SAGD has a BOP EXCEEDING 250,000 bbls/d

- I WONDER WHY there is NO TALK OF EXPANSION given such a LARGE RESOURCE BASE and SAGD being such a LONG-LIFE/LOW-DECLINE competitive asset and CONNECTED by pipeline to the Suncor Energy Base Plant

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[mrbb]

- I WONDER WHY there is NO TALK OF EXPANSION given such a LARGE RESOURCE BASE and SAGD being such a LONG-LIFE/LOW-DECLINE competitive asset and CONNECTED by pipeline to the Suncor Energy Base Plant production and capital profile aren't the same as conventional/shale oil. Long story short, it's better to go steady eddy with oilsand as payout isn't quick like shale

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production and capital profile aren't the same as conventional/shale oil. Long story short, it's better to go steady eddy with oilsand as payout isn't quick like shale oil, need to maximize utilization of existing facilities. - SAGD CAPITAL EFFICIENCIES are the INDUSTRY-LEADING FULL-CYCLE segment - Cenovus Energy Chistina Lake PHASE G 50,000 bbls/d BOP EXPANSION came in at LESS than

[mrbb]

well, it depend how one define 'expansion'. If the expansion involve mostly adding new SAGD wells feeding into existing processing facility with minimum facility modification, yah, it's easy and economics are great. As for CVE christina lake phase G expansion, it's was done during 2015-2019, before covid, low interest rate environment, relatively stable costs. Cenovus happen to