Paula Dittrick
OGJ Senior Staff Writer

GREENWICH, Conn., Sept. 22 – Suncor Energy Inc. was awarded the transaction of the year award during the IHS Herold Pacesetters Energy Conference on Sept. 22 for the merger between Suncor and Petro-Canada Corp., which closed Aug. 1.

In a speech before the award was announced, John Rogers, vice-president of investor relations for Suncor, said it’s too early to discuss details yet about the future of the combined company, which operates as Suncor.

The merger was considered 10 years before it actually was completed, Rogers said, adding the two companies combined long-life, low-risk assets.

“Together, we have the financial flexibility to continue to develop through the down cycle,” Rogers said.

The merged company has a resource base of 7.5 billion boe of proved (developed and undeveloped) and probable reserves.

“We are now in a position to compete with the supermajors who are doing business in our own backyard,” Rogers said.