• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn
Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Suncor, Teck buy part of Total stake in Canada oil sands mine

January 3, 20187:01 PM Reuters0 Comments

Fort Hills Oilsands Site
Suncor Energy Inc., Canada’s second-largest energy producer, said on Wednesday it and Teck Resources Ltd have taken higher stakes in the Fort Hills oilsands mine from partner Total SA, resolving a dispute over building costs.

Under terms of the deal, Suncor and Teck will fund more of the C$17 billion project’s capital cost – C$300 million and C$120 million more respectively. Suncor’s share of the project will be 53.06 percent, compared to 20.89 percent for Teck and 26.05 percent for Total.

Fort Hills in northern Alberta produced 6,000 barrels per day during fourth-quarter test runs and is expected to fully start production in mid-January when the first of three secondary extraction trains starts up, Suncor said in a statement after markets closed.

Fort Hills’ startup comes as increasing oil sands supply outpaces Canadian pipeline capacity, creating a deepening price discount for Western Canada Select compared to benchmark West Texas Intermediate (WTI).

Suncor

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Biden to revoke Keystone XL pipeline permit after swearing-in-aides
  • TC Energy disappointed with expected executive action revoking Keystone XL presidential permit
  • Equinor divests stake in Canada oil sands producer Athabasca
  • XI Technologies: Open Asset Evaluation for January 2021
  • Bonterra Energy Corp. continues to recommend shareholders reject the hostile bid by taking no action

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.