Suncor reported 4Q15 CFPS of $0.89/share (diluted) on total production of 582,900 boe/d. 2015e results were generally better than the midpoint of original guidance. The 2016e capex budget has been reduced by ~$750 mm at the midpoint, to $6.0-$6.5 billion, before capitalized interest, with reductions largely coming from in situ oilsands and refining growth project deferrals. Our 2017e capex forecast has been reduced to $5.0 billion, while our 2018e-2020e capex forecasts are $4.3-$4.7 billion as w ....
08 Feb 2016
Downgrading on Valuation, Amidst Lower Oil Prices and Falling Refining Margins
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Downgrading on Valuation, Amidst Lower Oil Prices and Falling Refining Margins
Suncor Energy Inc. (SU:TSE) | 0 0 (-0.3%) | Mkt Cap: 69,601m
- Published:
08 Feb 2016 -
Author:
Michael P. Dunn -
Pages:
17
Suncor reported 4Q15 CFPS of $0.89/share (diluted) on total production of 582,900 boe/d. 2015e results were generally better than the midpoint of original guidance. The 2016e capex budget has been reduced by ~$750 mm at the midpoint, to $6.0-$6.5 billion, before capitalized interest, with reductions largely coming from in situ oilsands and refining growth project deferrals. Our 2017e capex forecast has been reduced to $5.0 billion, while our 2018e-2020e capex forecasts are $4.3-$4.7 billion as w ....