Newfoundland project in question
Suncor, Canada's leading integrated energy company, has announced it will record a $425 million non-cash after-tax impairment charge in the fourth quarter of 2020 on its share of the Atlantic offshore White Rose asset and West White Rose Project.
Suncor’s 2021 guidance remains unchanged as the White Rose field will remain online producing as expected.
The White Rose asset joint venture owners are Cenovus (operator, 72.5%) and Suncor (27.5%). The West White Rose Project joint-venture owners are Cenovus (operator, 69%), Suncor (26%) and Newfoundland and Labrador provincially owned energy corporation Nalcor (5%).