Suncor's Record Performance Should Show Promise for These Oil Companies
The news that Suncor posted the most profitable quarter to date wasn't just good for Suncor, it was good for a slew of different operators as well. The reason for this is not that Suncor boosted production -- it actually declined by 10% -- but rather the big boost in price that it saw for its oil sands operations. With over 60% of Suncor's business tied to oil sands and the price of Western Canadian Select, small changes in price can have a huge impact on its bottom line.
Suncor isn't the only one that can benefit from this either -- other companies with larger oil sands operations, like Conocophillips and Devon Energy , are likely to benefit as well. Find out what kind of impact oil sands will have on both Conocophillips and Devon in this quarter and beyond by tuning into the video below.
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The article Suncor's Record Performance Should Show Promise for These Oil Companies originally appeared on Fool.com.Tyler Crowe has no position in any stocks mentioned. You can follow Tyler at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter @TylerCroweFool. The Motley Fool owns shares of Devon Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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