Reported Sunday, Suncor To Sell Non-Core Offshore Assets For C$1.2B Cash Plus Up To C$350M Contingent, Lifts Monthly Buybacks To C$750M From C$500M

Suncor has reached an agreement to sell its interests in the Terra Nova, White Rose, and West White Rose offshore assets for C$1.2 billion in cash, with a potential contingent payment of up to C$350 million. Additionally, the company will increase its monthly share buybacks from C$500 million to C$750 million starting in October. Suncor's commitments made during the 2026 Investor Day to increase normalized free funds flow by C$2 billion and reduce WTI breakeven by US$5 per barrel by 2028 remain unchanged.