- During the Barclays Energy Conference, Suncor's CEO reiterated his confidence in the company's strategy of Operational Excellence, Capital Discipline and Profitable Growth.
- Operational Excellence has been improving with better utilization rates near 90% for its Oil Sands facilities. Cash costs have also decreased and CEO's recent comment implies further reduction is possible.
- Suncor has demonstrated remarkable capital discipline. It reduced capex by $1 billion in Q2, raised the dividend by 22% and has continued to repurchase shares on the open market.
- With a large reserve base of 7.7 billion barrels and 23.2 billion barrels of contingent resources, Suncor has plenty of operating flexibility to develop those resources profitably.