Suncor Plans Avg. Upstream Production Rise Of Approx. 10% In FY19 - Quick Facts

(RTTNews) - Suncor Energy Inc (SU.TO) announced 2019 corporate guidance which includes a capital program of between $4.9 and $5.6 billion and average upstream production of 780,000 to 820,000 barrels of oil equivalent per day. The midpoints of these ranges represent a flat capital spend compared to 2018 and a year over year production increase of approximately 10%, including estimated mandatory production curtailments, from approximately 730,000 boe/d in 2018.

Suncor noted that its production guidance assumes the mandatory production curtailments imposed by The Government of Alberta are in place for three months before declining to 30% of initial levels for the remainder of 2019.