Suncor Energy Inc. (SU, SU.TO) reported reported third quarter 2009 net earnings of C$929 million, compared to C$815 million in the third quarter of 2008. The company noted that the three and nine month amounts ending September 30, 2009 reflect results of the post-merger Suncor from August 1, 2009 together with results of legacy Suncor only from January 1 through July 31, 2009. The comparative figures reflect solely the 2008 results of legacy Suncor.
Earnings were C$0.74 per share, compared to C$0.87 per share in the prior year quarter.
Operating earnings were C$288 million or C0.23 per share, compared to C$810 million or C$0.87 per share in the third quarter of 2008.
After completion of the merger with Petro-Canada, Suncor's total upstream production during the final two months of the third quarter of 2009 averaged 630,600 barrels of oil equivalent, or boe, per day. Additional production resulting from the merger accounted for 289,400 boe per day.
Upstream production from Suncor's legacy oil sands and natural gas operations averaged 339,900 boe per day in the third quarter of 2009, compared to 281,000 boe per day in the third quarter of 2008.
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