On Thursday, Shares of Suncor Energy Inc. (USA) (NYSE:SU), gained 3.55% to $29.48.
Suncor Energy reports third quarter 2015 results.
“Suncor has delivered another strong quarter, with operating cash flow of $1.9 billion,” said Steve Williams, president and chief executive officer. “The strength of our downstream business and the reliability of our Oil Sands operations continue to serve our shareholders well in the current challenging crude oil pricing environment.”
- Cash flow from operations of $1.882 billion ($1.30 per common share) driven by a favourable downstream pricing environment and strong refinery utilization in the Refining and Marketing segment, reinforcing the resilience of the company’s integrated model.
- Operating earnings of $410 million ($0.28 per common share) and a net loss of $376 million ($0.26 per common share).
- Oil Sands operations cash operating costs per barrel reduced to $27.00 for the third quarter of 2015, which was the lowest achieved since 2007. This decrease was driven by strong production of 430,300 barrels per day (bbls/d) despite planned maintenance at Upgrader 2, lower natural gas prices and the company’s cost reduction initiatives.
- Suncor remains committed to profitable growth in the oil sands. This quarter, the company declared a contract to acquire an additional 10% of the Fort Hills mining project and, subsequent to the quarter end, commenced an offer to acquire all of the outstanding shares of Canadian Oil Sands Limited (COS) for consideration of 0.25 of a Suncor share per COS share. The transaction was valued at $6.6 billion at the time of declaration.
Suncor Energy Inc. operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada’s Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada; and markets third party petroleum products.
Shares of SM Energy Co (NYSE:SM), inclined 3.34% to $31.29, during its last trading session.
SM Energy Company, declares its financial results for the third quarter of 2015 and provides an operations update. In conjunction with this release, the Company posted an investor presentation with additional third quarter earnings and operations detail to the Company’s website at www.sm-energy.com. This presentation will be referenced during the conference call planned for 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on October 28, 2015.
THIRD QUARTER 2015 RESULTS
Production for the third quarter of 2015 was 16.1 MMBOE, or 174.5 MBOE/d, up 22% contrast with 13.1 MMBOE, or 142.5 MBOE/d, in the third quarter of 2014. Total production raised sequentially, adjusted for second quarter assets sales, and exceeded the Company’s expectations by about 0.6 MMBOE, despite an 11% sequential decline in non-operated Eagle Ford production.
Strong production was driven by well performance in the Company’s core areas that continues to exceed the Company’s year-end 2014 type curves plus a number of positive test wells in the Eagle Ford that came on sales during the quarter. Specifically, Eagle Ford Test #1 reached a peak natural gas rate of 105 MMcf/d during the quarter and Test #3 is on sales with several wells producing more than 10 MMcf/d each, while still cleaning up. Of note, these tests were drilled in high natural gas content areas, increasing the mix of natural gas in total third quarter production. The production mix for the quarter was 28% oil, 45% natural gas and 27% natural gas liquids (“NGLs”). For the first nine months of 2015, total production was 49.3 MMBOE, up 27% contrast with 39.0 MMBOE in the first nine months of 2014.
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America.
Finally, Shares of PTC Inc (NASDAQ:PTC), ended its last trade with -2.11% loss, and closed at $34.06.
PTC, stated financial results for the fourth quarter and full fiscal year ended September 30, 2015.
Q4 Fiscal 2015 Overview
Fourth quarter FY’15 revenue was $312.6 million. Net income was $9.0 million or $0.08 per share, which compares to revenue of $366.7 million and net income of $38.8 million or $0.33 per share in the fourth quarter FY’14.
Fourth quarter FY’15 non-GAAP revenue was $313.1 million. Non-GAAP net income was $77.1 million or $0.67 per share, which compares to non-GAAP revenue of $368.0 million and non-GAAP net income of $78.7 million or $0.67 per share, in the fourth quarter FY’14.
PTC Inc. develops, markets, and supports software products and solutions in the areas of computer-aided design (CAD), product lifecycle administration (PLM), application lifecycle administration (ALM), service lifecycle administration (SLM), and Internet of things (IoT) worldwide.