Replies to post #126 on Suncor Energy Inc. (SU)

[Timothy Smith]

Suncor reported September oil sands production of 365mbbl/d. This is down 15.7% over August levels, and down 2.1% YoY.

Production levels were affected by planned maintenance on U2 upgrader units, which took place through most of the month.

I consider this to be a solid result, as we had expected maintenance to play a bigger part in September production. YTD production has averaged 344mbbl/d, while 2013 oil sands production guidance is 350-380mbbl/d.

Suncor only has to produce at an average rate of 370mbbl/d through 4Q13 to make the low end of guidance, which we see as very achievable given increasing volumes from Firebag 4.

[eFinanceMarkets]

$SU Suncor Energy (NYSE:SU) announces better than expected Q4 earnings and a 12.5% increase in its quarterly dividend to $0.36/share.

SU reports Q4 operating profit of C$0.79/share, ahead of the C$0.72 analyst consensus estimate and above C$0.38 in the same quarter a year ago, and funds from operations hit a quarterly record $3B, well above the $2.4B in Q4 2016.

SU says Q4 production from Alberta’s oil sands rose 3.1% Y/Y to 446.8K bbl/day while operating cash costs fell to C$24.20/bbl vs. C$24.95/bbl in the year-ago period, and the company's share of production at the Syncrude joint venture fell 6.7% to 174.4K bbl/day while operating cash costs edged up to C$32.80/bbl vs. C$32.55/bbl a year ago.

"With Fort Hills and Hebron both successfully commissioned and now producing oil, the safe and steady ramp-up of production is proceeding as planned," CEO Steve Williams says.