FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a - 16 or 15d - 16 of
the Securities Exchange Act of 1934
For the month of: December, 2019 |
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Commission File Number: 1-12384 |
SUNCOR ENERGY INC.
(Name of registrant)
150 6th Avenue S.W.
P.O. Box 2844
Calgary, Alberta
Canada, T2P 3E3
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F o |
Form 40-F |
x |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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SUNCOR ENERGY INC. | ||
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Date: |
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By: |
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December 24, 2019 |
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Shawn Poirier |
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Shawn Poirier | |
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Assistant Corporate | |
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Secretary |
News Release
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FOR IMMEDIATE RELEASE
All financial figures are in Canadian dollars
Suncor Energy amends normal course issuer bid
Calgary, Alberta (Dec. 23, 2019) The decision to increase Suncors share repurchase program was previously announced on November 13, 2019. Today, Suncor received approval from the Toronto Stock Exchange (TSX) to amend its existing normal course issuer bid (the NCIB) effective as of the close of markets on December 27, 2019 to purchase common shares through the facilities of the TSX, New York Stock Exchange and/or alternative trading platforms. The notice provides that Suncor may increase the maximum number of common shares that may be repurchased in the period beginning May 6, 2019 and ending May 5, 2020 from 50,252,231 shares, or approximately 3% of Suncors issued and outstanding common shares as at April 30, 2019, to 78,549,178, or 5% of Suncors issued and outstanding common shares as at April 30, 2019. No other terms of the NCIB have been amended.
Between May 6, 2019 and December 20, 2019 and pursuant to the NCIB, Suncor has already repurchased approximately $1.61 billion of common shares on the open market. Pursuant to the NCIB (as amended), Suncor has agreed that it will not purchase more than 78,549,178 common shares, of which 39,840,850 common shares have already been purchased between May 6, 2019 and December 20, 2019.
The actual number of common shares that may be purchased and the timing of any such purchases will be determined by Suncor. Suncor believes that, depending on the trading price of its common shares and other relevant factors, purchasing its own shares represents an attractive investment opportunity and is in the best interests of the company and its shareholders. The company does not expect the decision to allocate cash to repurchase shares will affect its long-term growth strategy.
Legal Advisory Forward-Looking Information
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: Suncors NCIB, including Suncors belief that, depending on the trading price of its common shares and other relevant factors, purchasing its own shares represents an attractive investment opportunity and is in the best interests of the company and its shareholders, and the companys expectation that the decision to allocate cash to repurchase shares will not affect its long-term growth strategy. Forward-looking statements may be identified by words like may, will, believes, expect, and similar expressions.
Forward-looking statements are based on Suncors 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 Suncors experience and its perception of historical trends, including expectations and assumptions concerning: the accuracy of reserves and resources estimates; 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 execution of projects; and the receipt, in a timely manner, of regulatory and third-party approvals.
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Suncor Energy 150 6 Avenue S.W. Calgary, Alberta T2P 3E3 suncor.com |
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Suncor. Suncors actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them.
Suncors Managements Discussion and Analysis dated October 30, 2019, its Annual Information Form, Form 40-F and Annual Report to Shareholders, each dated February 28, 2019, and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P 3E3; by email request to invest@suncor.com; by calling 1-800-558-9071; or by referring to suncor.com/FinancialReports or to the companys profile on SEDAR at sedar.com or EDGAR at sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Suncor Energy is Canadas leading integrated energy company. Suncors operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio. Suncor is listed on the UN Global Compact 100 stock index. Suncors common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
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For more information about Suncor, visit our web site at suncor.com, follow us on Twitter @Suncor or together.suncor.com
Media inquiries:
833-296-4570
media@suncor.com
Investor inquiries:
800-558-9071
invest@suncor.com