Exxon Mobil (NYSE: XOM) received approval from Labrador Offshore Petroleum Board and Newfoundland to proceed with plans to develop the Hebron oil field. The field is located off Newfoundland, Canada.
Partners with Exxon in the endeavor include Chevron (NYSE: CVX), with a 26.7 percent interest; Suncor Energy (NYSE: SU), with 22.7 percent; and Statoil ASA (NYSE: STO), with 9.7 percent. Exxon has a 36 percent stake in the field.
Locally, Energy Corporation of Labrador and Newfoundland has a 4.9 percent stake in the venture.
Production at the field is expected to average approximately 150,000 barrels a day, although it could rise as high as 180,000 barrels a day.
There are an estimate 707 million barrels of oil located in the Hebron oil field.
Showing posts with label Suncor Energy. Show all posts
Showing posts with label Suncor Energy. Show all posts
Friday, June 1, 2012
Tuesday, February 21, 2012
Suncor (SU) (PFCB) (ROG) (SJM) (UMBF) (CFN) Ratings, Price Targets
Suncor Energy Inc. (SU), P.F. Chang's China Bistro (PFCB), Rogers Co. (ROG), The J.M. Smucker Company (SJM), UMB Financial Co. (UMBF) and CareFusion Co. (CFN) had ratings and price targets on them adjusted by analysts.
Raymond James upgraded P.F. Chang's China Bistro (PFCB) from an "Outperform" rating to a "Strong-Buy" rating.
DA Davidson upgraded Rogers Co. (ROG) from a "Neutral" rating to a "Buy" rating. They raised their price target from $42.00 $48.00 on the company.
Stephens upgraded The J.M. Smucker Company (SJM) from an "Equal Weight" rating to an "Overweight" rating.
Stifel Nicolaus upgraded Suncor Energy Inc. (SU) from a "Hold" rating to a "Buy" rating. They have a price target of $42.00 on the company.
Raymond James upgraded UMB Financial Co. (UMBF) from an "Underperform" rating to a "Market Perform" rating.
Morgan Keegan upgraded CareFusion Co. (CFN) from a "Market Perform" rating to an "Outperform" rating. They raised their price from $26.00 to $31.00 on the company.
Raymond James upgraded P.F. Chang's China Bistro (PFCB) from an "Outperform" rating to a "Strong-Buy" rating.
DA Davidson upgraded Rogers Co. (ROG) from a "Neutral" rating to a "Buy" rating. They raised their price target from $42.00 $48.00 on the company.
Stephens upgraded The J.M. Smucker Company (SJM) from an "Equal Weight" rating to an "Overweight" rating.
Stifel Nicolaus upgraded Suncor Energy Inc. (SU) from a "Hold" rating to a "Buy" rating. They have a price target of $42.00 on the company.
Raymond James upgraded UMB Financial Co. (UMBF) from an "Underperform" rating to a "Market Perform" rating.
Morgan Keegan upgraded CareFusion Co. (CFN) from a "Market Perform" rating to an "Outperform" rating. They raised their price from $26.00 to $31.00 on the company.
Tuesday, October 26, 2010
JPMorgan (NYSE:JPM) Launches Coverage on Cenovus (NYSE:CVE), Nexen (NYSE:NXY), Talisman (NYSE:TLM), Canadian Natural Resources (NYSE:CNQ) and Suncor (
JPMorgan took aim at companies with strong exposure to the Canadian oil sands in Alberta, with analyst Katherine Minyard initiating coverage on Cenovus Energy (NYSE:CVE), Nexen (NYSE:NXY), Talisman Energy NYSE:TLM), Canadian Natural Resources (NYSE:CNQ), Suncor Energy (NYSE:SU) and Husky Energy (TSE:HSE).
She started off Cenovus Energy, Nexen, and Talisman Energy with "Overweight" ratings. Canadian Natural Resources and Suncor Energy with "Neutral" ratings, and Husky Energy with an "Underweight" rating.
“We believe depth of resource base, production growth visibility and exposure to an increasingly important source of global oil supply make for an attractive value proposition in oil sands-rich Canadian oils,” Minyard said in a note to clients.
Minyard concedes her outlook on the sector is based on the ongoing support underlying oil prices. If they were to drop, the scenario for the above-mentioned companies in the short term could change significantly.
She concluded, “Although our near- and long-term oil price modeling assumptions do not call for prices to differ significantly from the current $81/barrel, significant or sustained weakness in the oil price would likely pressure share prices.”
She started off Cenovus Energy, Nexen, and Talisman Energy with "Overweight" ratings. Canadian Natural Resources and Suncor Energy with "Neutral" ratings, and Husky Energy with an "Underweight" rating.
“We believe depth of resource base, production growth visibility and exposure to an increasingly important source of global oil supply make for an attractive value proposition in oil sands-rich Canadian oils,” Minyard said in a note to clients.
Minyard concedes her outlook on the sector is based on the ongoing support underlying oil prices. If they were to drop, the scenario for the above-mentioned companies in the short term could change significantly.
She concluded, “Although our near- and long-term oil price modeling assumptions do not call for prices to differ significantly from the current $81/barrel, significant or sustained weakness in the oil price would likely pressure share prices.”
Monday, October 11, 2010
Canaccord Reiterates "Buy" on Suncor Energy (NYSE:SU)
Canaccord Genuity said they're maintaining a "Buy" on Suncor Energy Inc. (NYSE:SU), updating their production numbers.
"September oil sands production (ex-Syncrude) averaged 264 MBbl/d. This number came in lower than the 285 MBbl/d we had been expecting ... Nonetheless, the production level is still positive. Had the U2
upgrader turnaround and the planned maintenances at Firebag and MacKay River not taken place, we estimate September ex-Syncrude oil sands production would have averaged approximately 310 MBbl/d. This is still a strong number. The MacKay and Firebag maintenances have been completed and the U2 work is a six-week turnaround that started in early September. For Suncor to meet the low and midpoint of this year’s annual guidance, which remains at 280 MBbl/d (+/-5%), production would need to average 260 to 315 MBbl/d for the remaining three months," said Canaccord.
Suncor closed last week at $34.61, gaining $1.10 on Friday, or 3.28 percent. Canaccord has a price target of 43 on the company.
"September oil sands production (ex-Syncrude) averaged 264 MBbl/d. This number came in lower than the 285 MBbl/d we had been expecting ... Nonetheless, the production level is still positive. Had the U2
upgrader turnaround and the planned maintenances at Firebag and MacKay River not taken place, we estimate September ex-Syncrude oil sands production would have averaged approximately 310 MBbl/d. This is still a strong number. The MacKay and Firebag maintenances have been completed and the U2 work is a six-week turnaround that started in early September. For Suncor to meet the low and midpoint of this year’s annual guidance, which remains at 280 MBbl/d (+/-5%), production would need to average 260 to 315 MBbl/d for the remaining three months," said Canaccord.
Suncor closed last week at $34.61, gaining $1.10 on Friday, or 3.28 percent. Canaccord has a price target of 43 on the company.
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