11.92 -0.01 (-0.08%)
Before hours: 9:15AM EDT
|Bid||11.75 x 1200|
|Ask||11.93 x 21500|
|Day's range||11.80 - 12.04|
|52-week range||9.61 - 34.56|
|Beta (5Y monthly)||1.71|
|PE ratio (TTM)||5.26|
|Forward dividend & yield||0.63 (5.27%)|
|Ex-dividend date||03 Sep 2020|
|1y target est||42.83|
(Bloomberg) -- Canada’s Suncor Energy Inc. is exploring the sale of a handful of oil and gas fields in the North Sea, according to people with knowledge of the matter.Suncor is studying divesting the 30,000-barrel-a-day Golden Eagle Area on the U.K. side of the sea, the people said. Its 26.69% stake could be valued at about $400 million, one of them said. It’s also interested in selling smaller assets on the Norwegian side, valued at an estimated $100 million, another person said.After a slow start to the year as the coronavirus crisis disrupted plans across the industry, asset-sale activity in the North Sea has picked up in the second half. Exxon Mobil Corp. has begun a process to divest its U.K. fields and Eni SpA is seeking to sell a production vessel in Norway. Chrysaor Holdings Ltd. this month bought independent oil explorer Premier Oil Plc in a reverse takeover.Suncor hasn’t started a formal sales process, but is engaging with potential buyers that have shown interest in the fields, one of the people said.Suncor didn’t respond to a request for comment.The Calgary-based company is also considering selling its 40% stake in the Rosebank venture west of Shetland, one of the people said. The project, operated by Norway’s Equinor ASA, is one of the U.K.’s largest undeveloped fields.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Canada's struggling oil patch is seeking government aid to clean up its impact on the environment after the industry cut spending on green initiatives to weather the COVID-19 downturn. Canada, the world's fourth-largest oil producer, pumps out the highest emissions per barrel among major oil nations, according to Rystad Energy. Most Canadian crude comes from hydrocarbon-soaked sands in the province of Alberta and extracting it comes at a high environmental cost.
Suncor (SU) to lay off 12-15% of the labor force over the next year and a half amid the pandemic.