During 2010, the company's crude oil and natural gas production was 425,000 barrels per day, increasing 20% from 2009. Higher crude oil prices, increased production volumes from the company's thermal and Horizon Oil Sands operations boosted 2010 revenue growth.
Net earnings for 2010 increased to $1.7 billion from $1.6 billion in 2009. Cash flow from operations was $6.3 billion, rising 4% from 2009, backed by higher crude oil volumes. International operations in the North Sea and Offshore West Africa improved the company's free cash flows, with operational cash flows at $960 million as against a capital expenditure of $395 million.Of the 22 analysts covering the stock, 18 recommend a buy. Analysts are positive on the stock and expect it to deliver 23% over the next one year. The stock is trading at 16.8 times its estimated 2011 earnings.