RE:RE:RE:Oil anywhere near $55.00 is a dreamSuncor's investor base is/was dividend investors. If they don't restore the dividend to what it was pre-pandemic now that WTI is 50%? higher than the level at which Suncor can afford it, then they're literally be biting the hand that feeds them.
The CFO said the priority is 2/3 reduce debt and 1/3 buyback shares. IMO the priorities - assuming $60 WTI in 2021 and $35 break-even for sustaining capex and current dividend - should be a) first $10 above $35 WTI - reduce debt ($2.5B) b) next $5 above $45 WTI - restore the dividend ($1.2B) and c) next $10+ above $50 WTI invest - either diversify into ...natural gas and/or buy low on buying out oil sands partners ($2.5B). While I personally prefer buybacks over dividends (not tax efficient), its the wrong play for SU at this time (Shell already made that mistake, not sure why they wouldn't learn from this).