Calgary-based Suncor Energy has successfully completed the acquisition of TotalEnergies EP Canada Ltd., solidifying its position in the Fort Hills Project. With a purchase price of $1.468 billion, this transaction represents a significant step for Suncor in expanding its portfolio and establishing a stronger foothold in the oil and gas industry.
As a result of the acquisition, Suncor now holds a complete ownership of the Fort Hills Project located in Alberta’s Athabasca region, enhancing its presence in the province’s resource-rich areas. This strategically important move aligns with Suncor’s long-term growth plans and allows the company to further leverage its expertise in oil sands development, production, and upgrading.
Furthermore, Suncor aims to drive the transition towards a low-emissions future by investing in sustainable power and renewable fuels. By acquiring TotalEnergies EP Canada Ltd., Suncor reinforces its commitment to responsible energy development and expands its capabilities to generate clean energy solutions.
Suncor Energy has a diversified portfolio that encompasses various aspects of the energy sector. Apart from its involvement in oil sands development and offshore oil and gas activities, it also operates petroleum refineries in both Canada and the United States. To meet the evolving needs of consumers, Suncor maintains an extensive retail and wholesale distribution network, including Canada’s Electric Highway, which provides fast-charging electric vehicle stations across the country.
Recognized for its performance and transparent reporting, Suncor Energy strives to uphold sustainable practices. The company has consistently demonstrated its commitment to environmental stewardship, earning a place on prestigious indices such as the Dow Jones Sustainability North America Index and FTSE4Good Index.
For more information about Suncor Energy and its portfolio of projects, please visit suncor.com.
Frequently Asked Questions
What is the purchase price for the acquisition of TotalEnergies EP Canada Ltd.?
The acquisition of TotalEnergies EP Canada Ltd. by Suncor Energy has a purchase price of $1.468 billion.
What is the Fort Hills Project?
The Fort Hills Project is an energy development project located in Alberta’s Athabasca region, approximately 90 kilometers north of Fort McMurray.
What is Suncor Energy’s focus?
Suncor Energy is Canada’s leading integrated energy company, with operations spanning oil sands development, production and upgrading, offshore oil and gas, petroleum refining, and retail and wholesale distribution networks. The company is also committed to advancing the transition to a low-emissions future through investments in power and renewable fuels.
Where are Suncor Energy’s common shares listed?
Suncor Energy’s common shares are listed on both the Toronto Stock Exchange and the New York Stock Exchange, under the symbol “SU”.