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BRIEF-Suncor Energy reports Q1 net earnings were $1.35 bln
April 27, 2017 / 1:08 AM / 6 months ago

BRIEF-Suncor Energy reports Q1 net earnings were $1.35 bln

April 26 (Reuters) - Suncor Energy Inc

* Suncor Energy reports first quarter 2017 results

* Q1 FFO per share c$1.21

* Qtrly oil sands operations production of 448,500 barrels per day

* Upstream production was 725,100 boe/d in Q1 of 2017, compared with 691,400 boe/d in prior year quarte

* Full year outlook range for syncrude production has been updated from 150,000 - 165,000 bbls/d to 135,000 - 150,000 bbls/d

* Full year outlook range for syncrude cash operating costs has been updated from $32.00 - $35.00/bbl to $36.00 - $39.00/bbl

* Full year outlook range for e&p production has been updated from 95,000 - 105,000 boe/d to 110,000 - 120,000 boe/d

* Qtrly operating earnings of $812 million or $0.49 per common share

* Suncor’s share of syncrude production was 142,100 bbls/d in Q1 of 2017, compared to 112,800 bbls/d in prior year quarter

* Significant progress made on hebron and fort hills with both projects on track for first oil at end of 2017

* Average refinery crude throughput increased to 429,900 bbls/d in q1, compared to 420,900 bbls/d in prior year quarter

* Suncor energy - 2017 capital program will focus on bringing suncor’s major growth projects, fort hills and hebron, to first oil by end of year

* Full year outlook range for syncrude crown royalties has been updated from 1% - 3% to 3% - 6%

* Plans to repurchase up to $2.0 billion of company’s shares over next twelve months

* Suncor energy - syncrude advanced planned q2 turnaround to help mitigate impact of incident, expects to return to normal operating rates during q2

* Qtrly net earnings were $1.352 billion , compared with $257 million in prior year quarter Source text for Eikon: Further company coverage:

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