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Syncrude's return to normal delayed until mid-July at best

Syncrude's return to normal delayed until mid-July at best

Majority-owner Suncor Energy announced today that production at Syncrude will not be back to full capacity until mid-July at best. The facility is expected to undergo a major maintenance turnaround on one of its cokers, which had been planned before the fire.

Full year guidance for the facility was cut about 15% due to the Fort McMurray wildfires, from an original estimate of about 265,000 bbl/day to a range of 215,000 to 235,000 bbl/day. Operating costs for the facility are expected to be in the $41 to $44/bbl range for the full year (including cost of upgrading), increased from Suncor's original estimate of $35 to $38/bbl.

Syncrude was taken offline and completely evacuated in early May due to encroaching wildfires. Syncrude has never had a full outage of both upgraders in its 38 year history.

SYNCRUDE BY THE NUMBERS:

MINE
MILDRED LAKE
AURORA NORTH
START-UP
1978
2002
MINE LIFE
1978 to 2032
2001 to 2039
ORE QUALITY
10.7% bitumen
TV:BiP = 10.6:1
11.4% bitumen
TV:BiP = 7:1
CRUSHER FEED
10,000 tph nominal
16,000 tph nominal
BITUMEN FROTH
PRODUCTION
150,000 bbl/day froth to
Mildred Lake Froth Treatment
225,000 bbl/day froth to
Mildred Lake Froth Treatment
UPGRADERS 
MILDRED LAKE & UE1
CAPACITY 
350,000 bpcd
2015 AVG 
252,739 bpcd
PRODUCT 
Syncrude Sweet Premium
SPECS 
32.5° API • 0.2% sulphur
OPERATING COSTS
2015 @ $35.75/bbl • Q1/16 @ $31.35 (incl. upgrading)

The Syncrude consortium includes Imperial Oil (25%), Sinopec (7%), CNOOC (5%), Mocal Energy (5%) and Suncor Energy. Suncor's ownership will rise to 54% post acquisition of a 5% interest from Murphy Oil, which is expected to close in the next few months.

Imperial Oil, who operates the Syncrude mine and upgrader, did not provide an update, although Suncor did note it is working with Syncrude's operation to ensure a safe restart.

OPEC's view of world oil markets - 10 key takeaways

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Minor damage reported at Surmont as production resumes

Minor damage reported at Surmont as production resumes

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