Profit was 96 Canadian cents a share, excluding some items. The average of 16 analysts’ estimates compiled by Bloomberg was 92 cents.

Key Insights

Because of its refining operations and Petro-Canada gas stations, Suncor has been largely immune to the widening discounts for Canadian crude that have hurt some of its rivals. Syncrude, the 350,000-barrel-a-day plant that’s majority owned by Suncor, is now back at normal operating rates after going down in late June because of a transformer issue that knocked out power to the facility. Suncor’s increasing cash flow has largely allayed investors’ concerns over Syncrude’s reliability. The BOP Blow Out Preventer repair company gulf coast on Thursday reported funds from operations of C$3.14 billion, a new quarterly record. Suncor also has benefited from increased oil rig flanges gulf coast production from its new Fort Hills mine, a C$17 billion project with a full capacity of 194,000 barrels a day. The project reached 90 percent of nameplate capacity after the end of the third quarter, meeting a target of hitting that level this year.

Market Reaction

Share rose to as high as $34 in New York in after-hours trading, after closing at $33.31.

To contact the reporter on this story: Kevin Orland in Calgary at This email address is being protected from spambots. You need JavaScript enabled to view it.. To contact the editors responsible for this story: Simon Casey at This email address is being protected from spambots. You need JavaScript enabled to view it. Carlos Caminada, Michael Hytha.