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Author	Topic: Suncor Earmarks $7.3B for 2013 Capital Spending	Post a Reply Back to Topics

GasPasserAB Champion Author Edmonton Posts:25,012 Points:887,200 Joined:Apr 2010	Message Posted: Dec 5, 2012 11:48:39 AM Ignore GasPasserAB Report Abuse Suncor Energy released its 2013 corporate guidance Monday, which includes $7.3 billion in capital spending balanced between growth and sustaining projects and planned average production of 570,000 to 620,000 barrels of oil equivalent per day (boe/d), representing an increase of approximately eight percent in overall production and approximately 12 percent in oil sands production year over year. Approximately $3.3 billion of the 2013 capital spend is expected to go towards growth projects, with nearly half of that growth capital earmarked for advancing Exploration and Production projects including Hebron, Golden Eagle and East Coast Canada asset development. In Oil Sands, the company anticipates spending over $1.2 billion to support near-term production growth in In Situ and Base and fund Visit RigZone for full article

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Message Posted: Dec 5, 2012 11:48:39 AM

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Suncor Energy released its 2013 corporate guidance Monday, which includes $7.3 billion in capital spending balanced between growth and sustaining projects and planned average production of 570,000 to 620,000 barrels of oil equivalent per day (boe/d), representing an increase of approximately eight percent in overall production and approximately 12 percent in oil sands production year over year.

Approximately $3.3 billion of the 2013 capital spend is expected to go towards growth projects, with nearly half of that growth capital earmarked for advancing Exploration and Production projects including Hebron, Golden Eagle and East Coast Canada asset development. In Oil Sands, the company anticipates spending over $1.2 billion to support near-term production growth in In Situ and Base and fund
Visit RigZone for full article

REPLIES (newest first)Ignore Short Messages

iFueler Champion Author Durham Posts:64,378 Points:178,525 Joined:Nov 2012	Message Posted: Dec 6, 2012 1:45:16 AM Ignore iFueler Report Abuse another oil company investing report
jjjleblanc Champion Author Rochester Posts:5,872 Points:1,518,330 Joined:Jun 2008	Message Posted: Dec 5, 2012 9:43:03 PM Ignore jjjleblanc Report Abuse The more shale the merrier.
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: Dec 5, 2012 7:08:36 PM Ignore dh0770 Report Abuse Wish I had "earmarks".
teenitup Champion Author Houston Posts:1,644 Points:249,935 Joined:Sep 2012	Message Posted: Dec 5, 2012 3:19:27 PM Ignore teenitup Report Abuse Putting their money where their mouth is, good!
Sneakers55 Champion Author Houston Posts:51,298 Points:2,143,175 Joined:Nov 2005	Message Posted: Dec 5, 2012 2:33:20 PM Ignore Sneakers55 Report Abuse On Dec 5, 2012 11:34:07 AM, evowner wrote: >Oil companies have so much money to work with. And why are we >afraid to require them to pay taxes to be a part of the American economy? Suncor is a Canadian company.
gizbo123 Champion Author Los Angeles Posts:1,511 Points:1,751,050 Joined:Dec 2005	Message Posted: Dec 5, 2012 2:21:05 PM Ignore gizbo123 Report Abuse Not to worry our dictator will figure how to slow it down.
kag2010 Champion Author Winnipeg Posts:5,254 Points:1,019,760 Joined:Apr 2010	Message Posted: Dec 5, 2012 1:22:45 PM Ignore kag2010 Report Abuse Just greedy all the time.
YaBassa Champion Author Michigan Posts:2,430 Points:516,350 Joined:Nov 2011	Message Posted: Dec 5, 2012 12:53:34 PM Ignore YaBassa Report Abuse Greedy, greedy Big Oil
humblepie Champion Author Toledo Posts:34,208 Points:2,371,370 Joined:Mar 2006	Message Posted: Dec 5, 2012 12:46:26 PM Ignore humblepie Report Abuse i thought they only gave big bonuses with their money i guess thats not true....................
djwhit Champion Author Ohio Posts:3,007 Points:1,207,480 Joined:Jul 2009	Message Posted: Dec 5, 2012 12:38:45 PM Ignore djwhit Report Abuse SOUNDS MORE AND MORE LIKE GREED.......FOR THE OIL CO.........
evowner Champion Author Salem Posts:2,182 Points:358,510 Joined:May 2012	Message Posted: Dec 5, 2012 12:34:07 PM Ignore evowner Report Abuse Oil companies have so much money to work with. And why are we afraid to require them to pay taxes to be a part of the American economy?
OTISFL Champion Author Pensacola Posts:4,610 Points:865,815 Joined:Apr 2009	Message Posted: Dec 5, 2012 12:29:13 PM Ignore OTISFL Report Abuse More money!
GingoutMD Champion Author Maryland Posts:3,495 Points:713,305 Joined:Jan 2010	Message Posted: Dec 5, 2012 12:22:34 PM Ignore GingoutMD Report Abuse $7.3B is nothing to shake a stick at. That is still some serious dough for Capital investments.
Zuegma All-Star Author Nova Scotia Posts:988 Points:257,905 Joined:Aug 2012	Message Posted: Dec 5, 2012 12:13:40 PM Ignore Zuegma Report Abuse Sounds like a very cautious forecast/goal for 2013. No new production additions from their oil sands exploitation? What is the CEO really saying? And, Suncor exploration in Libya was always modest at best. No comfort feeling about a 'transitional' regime (which was a big mistake by the US and I wonder if France, who championed that cause, is now selling more mirage jets to replace all the old migs they got the US to eliminate)?
bcline909 Veteran Author Virginia Posts:401 Points:80,170 Joined:Nov 2012	Message Posted: Dec 5, 2012 12:10:59 PM Ignore bcline909 Report Abuse lots of money