Suncor Energy Inc. T.SU

Alternate Symbol(s): SU

Energy Oil & Gas Integrated

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada and the United States and its Petro-Canada retail and wholesale distribution networks, including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicles (EV) stations. Petro-Canada has a network of over 1,800 retail and wholesale locations across Canada, providing customers with a wide variety of fuel and service offerings including low-carbon fuel options. It is developing petroleum resources while advancing the transition to a low-emissions future through investment in power and renewable fuels. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region, approximately 90 kilometers north of Fort McMurray.

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Suncor Energy Inc. > Chevron buys Hess

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Comment by mrbbon Oct 24, 2023 4:38pm

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Post# 35698989

RE:RE:RE:RE:RE:RE:RE:RE:RE:Chevron buys Hess

ztransforms173 wrote:

mrbb - (10/24/2023 3:18:48 PM)

RE:RE:RE:RE:RE:RE:RE:Chevron buys Hess

i've no doubt the main reason chevron bought hess is for their Guyana offshore asset.
My only question is why didn't exxon grab hess first instead of buying pioneer. For diversification? Who know. Exxon is a big (#1) player in Guyana and having hess asset could basically run the show there.

***

- I INCLUDED thought that XOM buying the HESS assets in Guyana was a NO-BRAINER !

- however, the ANSWER is OBVIOUS:

* HESS would NOT SELL unless ExxonMobil BOUGHT THE WHOLE COMPANY and at a MUTUALLLY AGREED PRICE

* going by the past MO of XOM, I do NOT believe that ExxobMobil was INTERESTED in the KEY HESS Bakken assets

* in addition, I do NOT BELIEVE that Guyana would PERMIT XOM to HOLD a 75% INTEREST {TOO CONCENTRATED} in the Stabroek block from their PRESENT 45%

z173

good point i had left out. Your last point is likely the main reason why exxon didn't acquire guyana asset. I'm sure exxon would buy hess whole if Guyana gov't let exxon increase exxon's stake in guyana. Chevron is kinda like johhny on the spot with no compeition from exxon. Market projected a 170-200 USD per hess share in a competitive bidding but due to exxon's hand out of the cookie jar, chevron got hess at the lower range of the market estimate share price. I have a tiny bit invested in a junior player in guyana play, just waiting and hoping for a buyout. :D

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