Suncor Energy Inc. -- Moody's views Suncor's Fort Hills acqusition as credit positive

Toronto, September 22, 2015 -- Moody's Investors Service views Suncor's proposed acquisition of an additional 10% working interest in the Fort Hills oil sands project from Total E&P Canada Ltd. (a subsidiary of Total S.A., Aa1 stable) for C$310 million as credit positive based on the favorable transaction economics. Suncor is paying C$56,000 per flowing barrel compared to a cost of C$83,000 per barrel on the total project. As well, Suncor will increase its share of cash flow and production from the project and internally fund the acquisition, improving its credit metrics once the project starts up in late 2017.

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