Ithaca Energy announced a $860 million acquisition of Suncor Energy's offshore Canadian oil assets, including interests in Terra Nova and White Rose fields. This deal is expected to raise Ithaca's production to 140,000-150,000 barrels of oil equivalent per day in the medium term and add significant reserves and resources. The acquisition will be immediately accretive to earnings, cash flow, and dividends, with production from these assets averaging 30,000 boe/d from 2027-2031 and peaking at 35,000-40,000 boe/d in 2029. Completion is planned for the first half of 2027, pending regulatory approvals.
Suncor Energy shares trade at USD 69.55, up 2.48% as of Oct 05, 2026 14:41 WIB on Pluang, reflecting strong market interest in the company’s assets. The $860 million acquisition by Ithaca Energy of Suncor’s offshore Canadian oil fields could influence future trading dynamics. Suncor’s market cap stands at $81.02 billion with a dividend yield of 2.44%, indicating solid investor returns in the energy sector.
Suncor Energy has agreed to sell its interests in the Terra Nova, White Rose, and West White Rose offshore oil assets to Ithaca Energy for $1.2 billion in cash plus up to $350 million contingent on future oil prices. Ithaca will take over all future ...
Envision Research highlights Suncor Energy as a better fit than Occidental Petroleum for Ray Dalio's all-weather portfolio, citing Suncor's strong revenue from outside the US (mainly Canada) and its steady correlation with oil prices. This geographic...
