Suncor's CEO lauds 'rock star' Firebag oilsands site

Helps energy giant hit record output from wells in Alberta in October

Suncor Energy Inc.’s crude output from wells in Alberta rose to a record in October on gains at the Firebag oilsands site, which the producer’s chief executive has called a “rock star” operation.

Suncor’s wells in the province produced about 284,000 barrels a day last month, the most in data stretching back to 2018 and up about 14 per cent from September, Alberta Energy Regulator data posted on the Petrinex website show. The gain came mostly from Firebag, a so-called steam-assisted gravity drainage oilsands well site, where output rose two per cent to a record 251,000 barrels a day.

Financial Post
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Suncor chief executive Richard Kruger has touted Firebag as a key asset for the company as it seeks to replace the potential loss of 30 per cent of its production when its Base Plant oilsands mine’s life is projected to run out over the next decade. A project to extend the mine’s life wasn’t approved by the federal government. Firebag had achieved five record months of output so far this year, Kruger said on an earnings call earlier this month.

While some of the Base Plant’s output may be replaced by expanded production at the Fort Hills mine, Suncor also will “continue to get more out of this rock star of a Firebag,” he said. “I’ve got a lot of confidence as we go through the internal suite of opportunities.”

Below is the oil production from wells of the 10 largest producers in Alberta, converted from cubic metres a month to approximate barrels a day.

  • Data is gross production for sites operated by the companies, excluding production from non-operated sites
  • Data excludes oilsands mines, but includes oilsands well sites, and may be revised in the future

Bloomberg.com