Capital Markets | Capital Expenditure | Capital Expenditure - 2020 | 2020 Guidance
Suncor's Oil Spending Relatively Flat YOY for 2020; Eyes 5% Production Growth
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Suncor Energy has detailed its guidance for 2020.
The capital program is expected to be between $5.4 and $6.0 billion with flat investment in oil related projects year over year. Upstream production is expected to be between 800,000 to 840,000 BOEPD, an approximately 5% production increase compared to 2019 midpoint guidance. Capex Details (Comparison YOY)*all percentages are taken from midpoints
Oil related capital is flat year over year, while oil production is expected to increase by 5% over 2019 midpoint guidance. Capital for previously sanctioned E&P step-out developments will increase by approximately $100 million over 2019 to $1.1 billion, and is inclusive of the Terra Nova asset life extension. The capital increase in 2020 is predominantly associated with projects driving…
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