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 production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicle (EV) stations). The Company is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower-emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. The Company also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region.

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Suncor Energy Inc > Rig counts continue to drop, Shale growth stalls

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Comment by PabloLafortuneon Jul 01, 2023 10:15pm

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Post# 35523946

RE:Rig counts continue to drop, Shale growth stalls

Unlikely to have any effect at all on oil prices - literally a drop in the bucket. most of rig drop are natgas rigs due to low natgas (and NGL) prices which also impacts ROI on many Permian plays. Once natgas, NGL and oil prices recover in next 1-6 months, Permian rigs will go right back up. Its all about global demand, SPR and OPEC plus supplies.

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