On August 16, 2020, it was reported by Suncor that the company had experienced a fire at its Base Plant mine’s secondary extraction facilities. Suncor then issued a press release on September 7, 2020 “provid[ing an] operational and 2020 guidance update.” In this press release, it was disclosed by Suncor that while “initial repairs can allow the mine to operate at full rates, production has been restricted to manage bitumen quality into the upgraders” and that the company expected to “achieve full mining rates of approximately 300,000 bbls/d by the middle of the fourth quarter, as bitumen treatment facilities return to full operation.” Suncor’s stock price fell $1.53 per share, or 9.86%, on this news, to close at $13.99 per share on September 8, 2020.
Suncor Energy, Inc.
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