Suncor Energy is a super investment opportunity
While Suncor Energy (NYSE:SU) has been a good performer, and has tons of potential to soar, that has increased even more as the company has returned to full production after a fire slowed things down a couple of months ago at its Fort McMurray, Alberta facility at the Canadian oil sands.
Suncor has just about everything going for it to be a great stock to own and hold for years, as in fourth quarter of 2009 they produced 278,000 barrels of oil a day at a cost of $38.70 a barrel, down from costs of $41.30 a barrel in 2008.
Taking into account estimated earnings for 2011, the company is trading at about 11 times earnings, with huge upside potential.
With operational costs down and oil prices up, Suncor is poised to create a lot of wealth for investors.
Suncor has recently shut some of its processing units at the Edmonton, Alberta refinery for maintenance.
Showing posts with label Canadian Sands. Show all posts
Showing posts with label Canadian Sands. Show all posts
Wednesday, April 7, 2010
Thursday, December 31, 2009
PetroChina Approved for Oil Sands Investment
PetroChina Canadian Oil Sands
PetroChina received the go ahead from Canada's Industry Minister Tony Clement to invest $1.7 billion into two Athabasca Oil Sands Corporation projects.
Clement stated concerning the deal: "I am satisfied that the investment is likely to be of net benefit to Canada." PetroChina will now own 60 percent of the Dover oil sands and Athabasca oil sands deposits.
Over the next three years PetroChina will pay out over $250 million for its part in developing the oil sands iniatives.
Estimated oil sands deposits at Dover and MacKay stand at about five million barrels.
Improved methods of extraction from oil sands, along with increasing oil prices, make the huge deposit of approximately 175 billion barrels of oil the largest oil reserves in the world outside of Saudi Arabia, the reputed No. 1 oil reserve country.
PetroChina Canadian Oil Sands
PetroChina received the go ahead from Canada's Industry Minister Tony Clement to invest $1.7 billion into two Athabasca Oil Sands Corporation projects.
Clement stated concerning the deal: "I am satisfied that the investment is likely to be of net benefit to Canada." PetroChina will now own 60 percent of the Dover oil sands and Athabasca oil sands deposits.
Over the next three years PetroChina will pay out over $250 million for its part in developing the oil sands iniatives.
Estimated oil sands deposits at Dover and MacKay stand at about five million barrels.
Improved methods of extraction from oil sands, along with increasing oil prices, make the huge deposit of approximately 175 billion barrels of oil the largest oil reserves in the world outside of Saudi Arabia, the reputed No. 1 oil reserve country.
PetroChina Canadian Oil Sands
Friday, August 22, 2008
Warren Buffett Cools off Speculators in Canadian Oil Sands Companies
With the lid being blown off the recent, secretive trip of Warren Buffett and Bill Gates to the Canadian Oil Sands, where they toured the Canadian Natural's C$9.3 billion ($8.9 billion) Horizon oil sands mining and synthetic crude processing operation, Warren Buffett made an appearance on CNBC's Squawk Box to make it clear he and Gates were only touring the facilities on a fact-finding mission, and weren't going to invest in the "Sands" at this time.
Oil Sands-related stocks on the Toronto Exchange surged on the news that Buffett and Gates had toured the area, with speculators bidding up a number of the oil stocks.
When Buffett made the announcement, the oil stocks plunged back to normal rates.
Oil Sands-related stocks on the Toronto Exchange surged on the news that Buffett and Gates had toured the area, with speculators bidding up a number of the oil stocks.
When Buffett made the announcement, the oil stocks plunged back to normal rates.
Tuesday, March 4, 2008
Saudi Oil Minister says they're not running out of oil - prices will remain high
The oil minister of Saudi Arabia, Ali Al Nuaimi, contradicted some of those panicking over the theory of "peak oil," which assumes we are past the ability to meet the growing needs of the world.
As Nuaimi says, by the end of 2009, Saudi Arabia alone will have production capacity of 12.5 million barrels a day; up from the 11 million barrels a day produced now. That doesn't include backup capacity of 1.5-2.0 million.
Nuaimi added that Saudi Arabia plans on adding another 200 billion barrels of oil to the reserves figure.
The purpose in doing this said Nuaimi, is "to reassure the world that we are not going to run out of oil in the next five to ten years as peak oil theorists say."
Not only is that ridiculous, it's far from the truth. Anybody that's heard about the Canadian oil sands and understands its extraordinary potential, knows there's an unbelieveable resource there.
The estimates of oil in relationship to the sands, is it could be over two trillion barrels, and maybe even way beyond that.
Proven reserves are a minimum of 175 billion barrels, which is only second to the 260 billion of Saudi Arabia. Production could reach as high as 3 million barrels daily by 2020, and even may reach 5 million barrels a day by 2030.
If the barrels of oil in the Canadian sands are close to estimates, it will make Canada the energy leader in the world.
Couple that with the two recent discoveries of oil below the ocean by Brazil's Petrobas, and you can see the reserves of oil are huge. That doesn't take into consideration that the new technology being used to discover these fields have just been employed recently, and much of the oceans haven't even been searched yet.
Formerly you couldn't see beneath the ocean floor because of salt deposits to discover oil or gas, now you can.
The Tupi oil field may yield up to 8 billion barrels of oil, with initial production expected to be at about 100,000 barrels a day.
The other recently discovered field is called "Juniper," and is similar in size to the "Tupi" field, according to Petrobas.
However you want to look at it, oil is plentiful, and it's only a matter of ramping up production.
There's a lot of great investment possibilities with oil, especially in relationship to the Canadian sands. It's something that needs to be researched by those interested in energy investments.
As Nuaimi says, by the end of 2009, Saudi Arabia alone will have production capacity of 12.5 million barrels a day; up from the 11 million barrels a day produced now. That doesn't include backup capacity of 1.5-2.0 million.
Nuaimi added that Saudi Arabia plans on adding another 200 billion barrels of oil to the reserves figure.
The purpose in doing this said Nuaimi, is "to reassure the world that we are not going to run out of oil in the next five to ten years as peak oil theorists say."
Not only is that ridiculous, it's far from the truth. Anybody that's heard about the Canadian oil sands and understands its extraordinary potential, knows there's an unbelieveable resource there.
The estimates of oil in relationship to the sands, is it could be over two trillion barrels, and maybe even way beyond that.
Proven reserves are a minimum of 175 billion barrels, which is only second to the 260 billion of Saudi Arabia. Production could reach as high as 3 million barrels daily by 2020, and even may reach 5 million barrels a day by 2030.
If the barrels of oil in the Canadian sands are close to estimates, it will make Canada the energy leader in the world.
Couple that with the two recent discoveries of oil below the ocean by Brazil's Petrobas, and you can see the reserves of oil are huge. That doesn't take into consideration that the new technology being used to discover these fields have just been employed recently, and much of the oceans haven't even been searched yet.
Formerly you couldn't see beneath the ocean floor because of salt deposits to discover oil or gas, now you can.
The Tupi oil field may yield up to 8 billion barrels of oil, with initial production expected to be at about 100,000 barrels a day.
The other recently discovered field is called "Juniper," and is similar in size to the "Tupi" field, according to Petrobas.
However you want to look at it, oil is plentiful, and it's only a matter of ramping up production.
There's a lot of great investment possibilities with oil, especially in relationship to the Canadian sands. It's something that needs to be researched by those interested in energy investments.
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