RE:RE:RE:RE:New NCIB to be announced?Vlosun wrote:
Great posts on this subject. It would really surprise me if they increase dividend . Better to Buyback shares actually and stand with their plan. The completion of line3 and tmx will improve the Canadian producer situation after 2023 and fix the future dividend.
Agreed
The ENB Line 3 completion which entails higher throughput plus TMX can pretty much take up all of the oil sands production. The quantity going through TMX has the advantage of getting something closer to the Brent price as opposed to the WTI/WCS price of Line 3 which is a good thing for SU.
If the OPEC+ Agreement holds and that is a big "if" given past experience, we could reasonably expect that the Brent and WTI prices would stay north of 70 a barrel and that would mean that SU would be flush with free cashflow for the foreseable future. That combined with their strategy to lower their production costs paints a rosy future for the company IMO.
In the meantime, I will be adding to my position on any weakness in the SP due to negative sentiment regarding "dirty oil" or general market weakness.