Suncor Energy Inc. T.SU

Rig counts

[lifeisgood1010]

While not as sizeble as last week drop,rig counts are once again down last week.


There is a lot more factors to consider than rig counts(completion, seasonality, output/ wells ...etc and most importanly
supply / demand balance.But ,as a Suncor shareholder, i would rather see rig counts going down that up.

USA -12 to 642. They were 763 at the same time last year
Canada -1 to 189
International -6 to 961

[MigraineCall]

Yup...

[matt2018]

The US producers must be able to produce more with less rigs. This weeks EIA report had US production at 12.7M bbl/day. Same week a year ago, it was 12.1M bbl/day.

[oilandgasmick]

You are right--these days they drill off pads with multiple lateral penetrations (deviated) coming off that pad. This technology has constantly improved so yes fewer rigs but more production. Its also good for the environment in that you disturb less of the natural habitat. The real issue is that the sweet spots (organic content and silica rich rocks good for fracking) are declining in number so

[lifeisgood1010]

You are absolutely right Matt, That's why i wrote, there is more factors than just rig counts. But it is still nice to see them dropping.We all now that shale depletion is very rapid. At one point in time,rig count reduction could or should equate to less production coming from our neighbors. Going foreward,most importantly will be the discipline of OPEC + Right now, we are in the sweet

[integrity11]

I agree Lifeis Good,, I think if oil prices stabilize over $80 Suncor stock price will continue to do well. It should already be $50+ imo. A few here (mostly the few who have no vested interest in Su) are very negative on SU. I;do believe some hedge funds and shorters have targeted SU more than some of the other large cap Canadian Oil and NG companies and we are just starting to recover from the