October 26, 2014 3:03 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Syncrude Canada Ltd.

Company Overview

Syncrude Canada Ltd. processes bitumen and produces value-added sweet light crude oil for domestic consumption in Canada and export. It has operations on the Athabasca oil sands deposit in northeastern Alberta, Canada. The company was founded in 1964 and is headquartered in Fort McMurray, Canada.

200, 9911 MacDonald Avenue

Fort McMurray, AB T9H 1S7

Canada

Founded in 1964

Phone:

780-790-5911

Fax:

780-790-6270

Key Executives for Syncrude Canada Ltd.

Chief Executive Officer
Chief Financial Officer and Vice President of Business Services
Vice President
Vice President of Government & Public Affairs
Vice President of Production - Mining
Compensation as of Fiscal Year 2014.

Syncrude Canada Ltd. Key Developments

Syncrude Canada Ltd. Announces Management Changes

Canadian Oil Sands disclosed the appointment of Mr. Mark Ward to the position of Chief Executive Officer of Syncrude Canada Ltd. effective April 1, 2014. Mr. Ward will have the lead role in working with Syncrude's joint venture owners and stakeholders to advance the strategic vision for the development of the resource. Mr. Ward was most recently the Lead Country Manager Nigeria and Manager Production Nigeria with ExxonMobil Production Company. He brings more than 35 years of technical and leadership experience with ExxonMobil and holds a BS in Chemical Engineering. The Syncrude organization is separating the previous role of President and CEO into the positions of Chief Executive Officer and President and Chief Operating Officer. The appointment of the President and Chief Operating Officer of Syncrude will be announced at a later date. Mr. Scott Sullivan, President and CEO of Syncrude since July 2010, will return to ExxonMobil. Under a Management Services Agreement, Imperial Oil and ExxonMobil provide operational services to Syncrude Canada and senior leadership support the organization.

Murphy Does Not Plan To Sell Syncrude Stake

Murphy Oil Corporation (NYSE:MUR) said that it does not intend to sell its 5% stake in Syncrude Canada Ltd. An unidentified executive said, “Those are two really, really great assets. (If) we didn't have them, certainly we would be out trying to buy them. If we were to receive a compelling offer, and I think I'd know what a compelling offer was if we saw it, and barring that and some of the strategic need for the proceeds. We really don't see it, a (sale) process, being started”. Shares of Murphy dropped down 40 cents to $60.4 in afternoon trading on the New York Stock Exchange on May 2, 2013.

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