Suncor Energy is seeing a nice profit in the third quarter of 2019.
The Calgary-based company released their latest results on Wednesday highlighting net earnings of of just over $1 billion from July to September.
This is down from their first and second quarters where they posted profits of $1.47 billion and $2.7 billion respectively.
“We continue to demonstrate Suncor’s ongoing commitment to shareholders by returning $1.4 billion in value through dividends and increased share repurchases,” said Mark Little, Suncor President and CEO.
Suncor also saw an increase in production year-over-year despite mandatory production curtailments.
They averaged 670,000 barrels per day with Fort Hills accounting for 85,500 bbls/d and their share in Syncrude producing 162,300 bbls/d.
Both sites, north of Fort McMurray, saw their production increase from the same period in 2018.