OTTAWA (dpa-AFX) - Suncor Energy Inc. (SU, SU.TO) reported fourth quarter net earnings of C$1.427 billion or C$0.91 per common share, compared to C$1.286 billion or C$0.82 per common share in the prior year quarter. Operating earnings, which adjusts net earnings for significant items that are not indicative of operating performance, increased to C$1.427 billion or C$0.91 per common share from C$808 million or C$0.52 per common share in the previous year quarter. The increase in operating earnings was due primarily to higher average upstream price realizations, the company stated. Suncor's total upstream production during the fourth quarter of 2011 averaged 576,500 barrels of oil equivalent per day (boe/d), compared to 625,600 boe/d during the fourth quarter of 2010.
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