- The first quarter of 2021 included strong operational results for Suncor Energy (SU), including important steps in Suncor’s continued journey towards improved and sustained reliability
- Overall, the company was able to strengthen its balance sheet and reduce total debt by $1.1 billion
- The company will continue to pursue digital transformation, cash flow generation, and debt reduction throughout the remainder of 2021
- Suncor Energy is one of Canada’s largest integrated energy companies
- Suncor Energy (SU) is down 0.24 per cent and is trading at $26.865 per share
Strong Q1 results highlight Suncor Energy’s (SU) continued journey towards improved and sustained reliability.
The company increased quarterly production in the first quarter of 2021 in response to reliable performance across its assets, which was a strong factor in the earnings seen across the board financially.
Together, the fourth quarter of 2020 and the first quarter of 2021 represent the best sequential synthetic crude oil production performance in the company’s history.
Mr. Little remarked,
“In 2021, we’ll focus on achieving our near-term plans, including the assumption of Syncrude operatorship and continuing our digital transformation, to further strengthen our cash flow generation capabilities while meeting our debt-reduction targets and increasing shareholder returns.”
Suncor Energy is one of Canada’s largest integrated energy companies, operating in western Canada, east coast Canada, the United States, and the North Sea.
Suncor Energy (SU) is down 0.24 per cent and is trading at $26.865 per share as of 1:52 pm ET.
