TD Securities Downgrades Suncor Energy (SU) to Hold
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Suncor Energy (SU) Sees 2016 Capex of C$6.7-C$7.3B
November 17, 2015 5:10 PM ESTSuncor Energy (NYSE: SU) released its 2016 corporate guidance today, which includes a flexible capital spending program of between $6.7 billion and $7.3 billion and average production of 525,000 to 565,000 barrels of oil equivalent per day.
The guidance includes projected Suncor oil sands cash operating costs per barrel (excluding Syncrude)(1) of $27.00 to $30.00, continuing a multi-year trend that has seen Suncor reduce its oil sands cash costs by over 25 per cent since 2011.
"Our oil sands production is expected to be slightly reduced in 2016, versus 2015 as a result of significant planned maintenance activities scheduled at various facilities,... More
