3Q15 financial results were better than expected (realized prices, operating costs). There may be more room to move our cost forecasts lower, if 3Q15 costs are reflective of the go-forward run rate, but for now our figures are relatively consistent with updated 2015 guidance. While our target price has increased by $0.65/share, it continues to reflect our view that Suncor will eventually increase its bid to the same 0.32 share exchange ratio offered to COS’s Board in April.
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3Q15 – Costs Fall
- Published:
03 Nov 2015 -
Author:
Michael P. Dunn -
Pages:
7
3Q15 financial results were better than expected (realized prices, operating costs). There may be more room to move our cost forecasts lower, if 3Q15 costs are reflective of the go-forward run rate, but for now our figures are relatively consistent with updated 2015 guidance. While our target price has increased by $0.65/share, it continues to reflect our view that Suncor will eventually increase its bid to the same 0.32 share exchange ratio offered to COS’s Board in April.