This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Suncor Energy Management Discusses Q2 2012 Results - Earnings Call Transcript

Finally, I would like to talk about operational excellence and what we call our journey to 0 or our continuous effort to reduce workplace injuries. Conventional industry wisdom tells us that safety performance is an excellent indicator of overall operational discipline and operations excellence. Now we do have to keep in mind that we've been on this journey for a number of years and we've already come a long way. So it gets harder to improve on past performance, but I am delighted to say that year-to-date in 2012, total injuries across the company are down by 26% versus 2011 and high-risk incidents, which are a leading indicator of safety issues, are also trending down versus last year. So all in all, another very good quarter and we're well-positioned for a strong second half to the year.

That said, it's not just business as usual here at Suncor. The most frequent question I've been asked the past few months is what's going to be different at Suncor under a new Chief Executive. Well, I'd like to take maybe just a few minutes to answer that question. So given the fact I joined Suncor over 10 years ago and I was one of the architects of our strategy, you shouldn't expect to see Suncor take a sudden left-hand turn. Our strategy is well-established, and we'll be working hard to execute it effectively. However, you can expect to see some important changes.

First of, as I said, I'm not focused on getting to 1 million barrels a day of production by 2020. That said, I have no doubt we will eventually get to that level of production and beyond. But what I am focused on is achieving strong returns for our shareholders. Growth for the sake of growth doesn't interest me too much. What interest me is profitable growth. So that leads me to my second point, a rigorous scrutiny on capital discipline. So together with the leadership team, I will examine our spending to ensure that we're laying down that capital effectively, and we're achieving our desired returns for shareholders. So we plan to spend within our means and we spend -- plan to spend efficiently and effectively.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,982.59 +22.02 0.13%
S&P 500 1,978.91 +0.57 0.03%
NASDAQ 4,444.9090 -4.6550 -0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs