(Bloomberg) – Suncor Energy Inc.’s crude output from wells in Alberta rose to a record in October on gains at the Firebag oil sands site, which the producer’s chief executive has called a “rock star” operation.
Suncor’s wells in the province produced about 284,000 bpd last month, the most in data stretching back to 2018 and up about 14% 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 oil sands well site, where output rose 2% to a record 251,000 barrels a day.
Suncor CEO Richard Kruger has touted Firebag as a key asset for the company as it seeks to replace the potential loss of 30% of its production when its Base Plant oil sands 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.”
- Data is gross production for sites operated by the companies, excluding production from non-operated sites
- Data excludes oil sands mines, but includes oil sands well sites, and may be revised in the future
