RE:RE:RE:What's next for Suncor?It's worthwhile to mention that Suncor had and has one of the most beat up balance sheets of the Canadian major's. They were once the darling of the industry but now it seems CNQ and Cenovus have taken that mantle.
These companies HAVE to pay down their debt. In my eyes running with net-zero debt strengthens the company substantially. They are no longer at the whims of the banks and can't be forced into bad hedges or other hand-cuffing clauses. The energy industry no longer has access to capital markets either. Nobody will lend them money to finance a major project, they're going to have to self fund until that sentiment changes.
The sentiment from the super-majors, shale guys, and Canadian majors is that they want to get off the merry-go-round of oil prices. In the past as prices creep up, we drill like crazy and it leads to a collapse. Nobody is sanctioning growth >5% per year. Now is the time to strengthen the companies. If we teeter into energy crisis territory then the growth and drilling will have to come back.