Welcome to our dedicated page for Suncor Energy news (Ticker: SU), a resource for investors and traders seeking the latest updates and insights on Suncor Energy stock.
Suncor Energy Inc. (symbol: SU) is a premier Canadian integrated energy company headquartered in Calgary, Alberta. Suncor is best known for its strong position in the Canadian oil sands, where it engages in extensive development, production, and upgrading activities. Beyond its core oil sands operations, Suncor has diverse business interests including offshore oil production, North American natural gas production, and petroleum refining in both Canada and the U.S. The company’s extensive Petro-Canada™ retail and wholesale distribution network includes Canada's Electric Highway™, a coast-to-coast network of fast-charging electric vehicle stations.
Suncor is a leader in the energy sector, consistently investing in innovative technologies to enhance efficiency and sustainability. The company is actively advancing its transition to a low-emissions future through significant investments in power and renewable fuels. Suncor also conducts energy trading activities primarily focused on the marketing and trading of crude oil, natural gas, byproducts, refined products, and power.
Suncor’s operations are organized into three main segments: Oil Sands, Exploration and Production, and Refining and Marketing. These segments allow the company to have a broad and balanced portfolio, ensuring robust performance across various market conditions. Financially, Suncor continues to perform strongly, with recent achievements including record-high quarterly oil sands production and exceptional downstream performance with refining utilization at 98%.
The company is committed to safety, operational reliability, and the well-being of the communities where it operates. It has a long-standing partnership with Indigenous communities and recently signed a Memorandum of Understanding with Fort McKay First Nation on a significant oil sands lease development opportunity. Suncor also announced a renewed Normal Course Issuer Bid to purchase up to 128.7 million common shares, reflecting confidence in its long-term strategy and shareholder value.
As of the latest updates, Suncor's fourth quarter and annual results for 2023 highlighted strong performance and strategic growth initiatives. The company’s President and CEO, Rich Kruger, emphasized the focus on safety, reliability, and profitability, setting a robust foundation for continued success in 2024. Suncor's shares are listed on the Toronto Stock Exchange and the New York Stock Exchange, providing ample opportunities for investors to participate in its growth.
For more detailed information and the latest news, visit Suncor's official website.
Suncor Energy (TSX: SU) (NYSE: SU) has released its 2025 corporate guidance, projecting upstream production of 810,000 to 840,000 bbls/d and refining utilization of 93% to 97%. The guidance includes major investments in the Upgrader 1 coke drums replacement at Base Plant, Mildred Lake West Mine Extension, West White Rose projects, and Petro-Canada retail network improvements.
The company's 2025 capital program ranges from C$6.1-6.3 billion, with 45% allocated to economic investments. Key operational metrics include Oil Sands operations cash operating costs of C$26-29/bbl, Fort Hills costs of C$33-36/bbl, and Syncrude costs of C$34-37/bbl. The guidance assumes WTI crude price at US$75/bbl and an exchange rate of US$0.74/C$.
Suncor Energy (TSX: SU) (NYSE: SU) has issued an update regarding the impact of the Canadian Union of Postal Workers national strike on the distribution of their quarterly documents. In compliance with Alberta Securities Commission's Blanket Order 51-516, Suncor will resume mailing documents once postal service returns to normal. In the meantime, shareholders can access these documents digitally through suncor.com/FinancialReports, SEDAR+, or EDGAR. Shareholders who previously requested paper copies can arrange alternate delivery through Computershare.
Suncor Energy reported strong Q3 2024 results with $3.8 billion in adjusted funds from operations and $2.2 billion in free funds flow. The company achieved record-breaking performance with highest-ever refining throughput of 488,000 bbls/d and 105% utilization. Upstream production reached 829,000 bbls/d with 99% upgrader utilization. Suncor returned $1.5 billion to shareholders through $800 million in share repurchases and $700 million in dividends. The company hit its $8.0 billion net debt target and increased quarterly dividend by 5% to $0.57 per share.
Suncor Energy (TSX: SU) (NYSE: SU) has announced a quarterly dividend increase of approximately 5% to $0.57 per common share. The dividend will be paid on December 24, 2024 to shareholders of record as of December 3, 2024. CEO Rich Kruger attributed this increase to sustained operational improvements, enhanced free funds flow, and successful share buybacks. The company highlighted its commitment to increasing shareholder returns through this dividend boost, supported by improving operating performance and a stronger financial position.
Suncor Energy (TSX: SU) (NYSE: SU) has announced the release date for its third quarter 2024 financial results. The results will be published on November 12, 2024 before 5:00 p.m. MT (7:00 p.m. ET). A webcast to review the results will be held on November 13, 2024 at 7:30 a.m. MT (9:30 a.m. ET).
The webcast will feature Rich Kruger, President and CEO, and Kris Smith, CFO, with Troy Little, Senior VP of External Affairs, hosting the call. Analysts can register to participate in the Q&A session. Suncor Energy, Canada's leading integrated energy company, operates in oil sands development, offshore oil production, petroleum refining, and retail distribution through Petro-Canada.
Suncor Energy announced the pricing of its tender offers to purchase up to C$1 billion of its 6.50% and 6.80% Notes due 2038 (Pool 1 Notes), and up to C$100 million of its other notes (Pool 2 Notes). The tender offers aim to retire long-term debt and strengthen the balance sheet. The early tender date was October 2, 2024, and the early settlement date is October 7, 2024. The tender offers will expire on October 18, 2024. Suncor will use cash on hand to fund the purchases. The company expects to accept all validly tendered Pool 1 Notes and some Pool 2 Notes on a prorated basis. The total consideration includes accrued and unpaid interest. Notes accepted will be retired and canceled.
Suncor announced early tender results for its Tender Offers to purchase certain outstanding notes for cash. The company increased the Pool 1 Maximum Amount from C$700 million to C$1 billion and maintained the Pool 2 Maximum Amount at C$100 million. As of the early tender date, significant amounts of various notes have been tendered. For Pool 1, Suncor expects to accept all 6.50% Notes due 2038 and 6.80% Notes due 2038 on a prorated basis. For Pool 2, it will accept all 3.10% Series 6 Medium Term Notes due 2029, 3.00% Series 5 Medium Term Notes due 2026, and 5.35% Notes due 2033, with 5.95% Notes due 2035 accepted on a prorated basis. The Tender Offers will expire on October 18, 2024. Suncor plans to fund the purchases with cash on hand and expects to make payments on October 7, 2024. All accepted notes will be retired and canceled.
Suncor Energy (TSX: SU) (NYSE: SU) has announced tender offers to purchase for cash certain outstanding series of notes for an aggregate purchase price of up to C$800 million, excluding accrued interest. The tender offers are divided into two pools:
Pool 1 (max C$700 million): 6.50% Notes due 2038 and 6.80% Notes due 2038
Pool 2 (max C$100 million): Various series of notes due between 2026 and 2042
The tender offers will expire on October 18, 2024. Holders tendering before the Early Tender Date of October 2, 2024, will be eligible for the Total Consideration, which includes an Early Tender Payment. The purchase price will be determined based on a fixed spread plus the yield of the applicable reference security on October 3, 2024. Suncor intends to fund the purchases with cash on hand.
Suncor Energy reported its Q2 2024 results, highlighting key financial and operational performance metrics.
The company generated $3.4 billion in adjusted funds from operations and $1.4 billion in free funds flow. Shareholder returns totaled over $1.5 billion through $825 million in share repurchases and $698 million in dividends.
Key production metrics included a strong upstream production of 771,000 barrels per day (bbls/d) and refinery throughput of 431,000 bbls/d. Record first half production included 803,000 bbls/d upstream and 443,000 bbls/d refinery throughput.
Financial highlights showed net earnings of $1.568 billion ($1.22 per share) and adjusted operating earnings of $1.626 billion ($1.27 per share).
Suncor executed $800 million in turnaround activities ahead of schedule and reduced net debt by $498 million to $9.054 billion.
Suncor forecasts growth in free funds flow by $3.3 billion per year by 2026 and plans to grow upstream production by 100,000 bbls/d from 2023 to 2026.
Suncor Energy (TSX: SU) (NYSE: SU) has announced a quarterly dividend of $0.545 per share on its common shares, payable September 25, 2024 to shareholders of record at the close of business on September 4, 2024. Suncor, Canada's leading integrated energy company, operates in oil sands development, offshore oil production, petroleum refining, and retail distribution through Petro-Canada™. The company is also investing in lower-emissions power, renewable fuels, and emissions reduction projects as part of its transition strategy. Suncor's common shares are listed on both the Toronto and New York stock exchanges under the symbol SU.
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