IMO’s sustaining capex estimate is down 25% to $0.9 billion/year, and growth capex through 2020e is now expected to average ~50% less than a year ago, so there is even more room for IMO to return more cash to shareholders (perhaps beginning later this year?). Syncrude output for August was a new record (>375 mbbl/d) due to flush production, while Kearl has produced 280-290 mbbl/d in some weeks. Acquisition opportunities will be hard pressed to compete with IMO’s internal slate
22 Sep 2016
2016 Investor Day: Even Lower Sustaining Capital
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2016 Investor Day: Even Lower Sustaining Capital
Imperial Oil Limited (IMO:TSE) | 0 0 (-1.4%) | Mkt Cap: 28,420m
- Published:
22 Sep 2016 -
Author:
Michael P. Dunn -
Pages:
11
IMO’s sustaining capex estimate is down 25% to $0.9 billion/year, and growth capex through 2020e is now expected to average ~50% less than a year ago, so there is even more room for IMO to return more cash to shareholders (perhaps beginning later this year?). Syncrude output for August was a new record (>375 mbbl/d) due to flush production, while Kearl has produced 280-290 mbbl/d in some weeks. Acquisition opportunities will be hard pressed to compete with IMO’s internal slate