Suncor Shares Rise 5.4% on Strong Upstream Production

By Denny Jacob

Suncor shares rose 5.4% to 45.13 Canadian dollars ($33.88) following its second best upstream production in the fourth quarter.

The stock is up 9.3% over the last 12 months.

The Canadian energy company issued an operational update for the fourth quarter that highlighted upstream production of 808,000 barrels per day, which it said was the second highest quarter in the company's history.

"Not only did we meet the annual production guidance set a year ago, but December was also Suncor's best month ever with upstream production averaging over 900,000 [barrels per day]," Chief Executive Rich Kruger said.

Suncor's full fourth-quarter financial and operating results will be released on Feb. 21.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

January 03, 2024 15:40 ET (20:40 GMT)

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