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Suncor Energy Provides Update on Acquisition of Teck's Interest in Fort Hills
Calgary, Alberta--(Newsfile Corp. - December 23, 2022) - Suncor Energy (TSX: SU) (NYSE: SU) ("Sun...
About this update from Suncor Energy Inc.
[{"type":"text","content":"Suncor Energy Provides Update on Acquisition of Teck's Interest in Fort HillsCalgary, Alberta--(Newsfile Corp. - December 23, 2022) - Suncor Energy (TSX: SU) (NYSE: SU) (\"Suncor\") announces that it has been made aware of an application that has been filed today by TotalEnergies EP Canada Ltd. (\"Total\") in the Court of King's Bench of Alberta related to the validity of the right of first refusal notice (\"ROFR Notice\") delivered to it by Teck Resources Limited (\"Teck\") in connection with the sale of Teck's 21.3% interest in Fort Hills to Suncor. Suncor supports Teck's view on the validity of the ROFR Notice and believes the filing by Total to be without merit. As previously indicated, the acquisition is currently anticipated to close in the first quarter of 2023. As the matter is before the courts, Suncor will have no further comment.Legal Advisory - Forward-Looking Statements This news release contains certain forward-looking information and forward-looking statements (collectively referred to herein as \"forward-looking statements\") within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements in this news release include references to the merit of Total's claim. Forward-looking statements are based on Suncor's current expectations, estimates, projections and assumptions that were made by the company in light of its information available at the time the statement was made and consider Suncor's experience and its perception of historical trends, including expectations and assumptions concerning: the accuracy of reserves and resources estimates; the current and potential adverse impacts of the COVID-19 pandemic, including the status of the pandemic and future waves; commodity prices and interest and foreign exchange rates; the performance of assets and equipment; capital efficiencies and cost-savings; applicable laws and government policies; future production rates; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour, services and infrastructure; the satisfaction by third parties of their obligations to Suncor; the development and execution of projects; and the receipt, in a timely manner, of regulatory and third-party approvals.Forward-looking statements are not guarantees of future performance and involve a number of ri...