• Sign up for the Daily Digest E-mail
Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Suncor forecasts higher annual production, spending

November 30, 20204:14 PM Reuters0 Comments

Suncor Energy Inc on Monday forecast higher production and spending targets for fiscal year 2021, as the Canadian oil and gas producer bets on demand and prices to rebound from pandemic lows.

The company expects 2021 average production of 740,000 to 780,000 barrels of oil equivalent per day, about 10% higher than the midpoint of the forecast range for 2020.

It also set a capital program target of between C$3.8 billion ($2.92 billion) and C$4.5 billion, compared with C$3.6 billion to C$4 billion this year.

North American oil and gas companies are restoring drilling of wells shut-in to counter a steep fall in prices earlier this year as the COVID-19 pandemic hammered fuel demand with U.S. crude prices dipping into the negative for the first time ever.

Suncor also said it expects to pay down debt of between C$500 million and C$1 billion and announced a C$500 million share repurchase program for 2021. 29dk2902l

Suncor

Follow the BOE Report
  • linkedin
  • facebook
  • twitter
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Cardinal announces its 2021 operating and capital budget focused on continued debt reduction and asset optimization
  • Newfoundland government to fund refinery as search for buyer continues
  • Canada’s rig count up 11 to 181
  • U.S. drillers add oil and gas rigs for 8th week in a row
  • Oil falls as China lockdown, U.S. unemployment temper gains

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView

About
  • About BOEReport.com
  • In the News
  • Terms of Use
  • Privacy Policy
Resources
  • App
  • Widgets
  • Notifications
  • Daily Digest E-mail
Get In Touch
  • Advertise
  • Post a Job
  • Contribute
  • Contact
Featured In
  • CamTrader
  • Rigger Talk
Data Partner
  • Foxterra
BOE Network
© 2021 Grobes Media Inc.