 鲜花( 1)  鸡蛋( 0)
|
CALGARY - Energy companies start reporting their third-quarter results today amid an environment of plunging oil prices and with credit and equity markets in disarray.
' O5 `3 g9 i1 |, G/ B* J5 T8 }! T) }* x; D; _( g
As oil closed at US$74.25, up US$2.40 on the day -- above last week's low of US$67 but a far cry from its peak of US$147 per barrel in July -- it's clear the days of wondering how amazing the profits will be are over.1 o0 S/ I8 {9 J. y, Y
& x2 }+ b6 d6 \% g; \+ t
This time around, capital expenditure plans will be under the microscope. Budgets may still be undergoing finishing touches, but do not expect the Street to wait for the nitty-gritty details.8 d. O, Z5 U: e& |: M6 A
0 s' }; C* X6 Z% O3 n: \
Take the mammoth Suncor Energy Inc. (SU/TSX) as an example of the dramatic cuts that may be coming.
; K$ M% O+ z- a C+ L2 {( n$ k4 m# D$ {5 n# t- a% r$ E& b+ P N f6 N
"We would not be surprised to see Suncor take a more conservative stance towards spending by scaling back its $9-billion to $10-billion 2009 capex program to the $5-billion to $6-billion range," said Andrew Potter, an analyst at UBS Securities Inc.8 `: h. {) {$ f4 q- Z* Q
, P# G4 u: r0 V( d# |) n( Yhttp://www.financialpost.com/money/story.html?id=895061 |
|
狗仔卡
发表于 2008-10-22 16:11
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
显身卡
