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T. Boone Pickens making loads on big Suncor stake
Posted on May 21, 2008
Suncor Energy Inc. jumped more than 7% on Tuesday as oil topped US$129 per barrel and billionaire energy icon T. Boone Pickens said prices would hit US$150 in 2008.But Suncor, the number two producer in Alberta s oilsands, which saw its biggest gain since August 2002, is also a key holding in Mr. Pickens hedge fund. At the end of the first quarter, Suncor accounted for 11% of the portfolio, or roughly US$180-million, second to only Occidental Petroleum Corp. at 12%, according to Bespoke Investment Group.Transocean Inc., an international provider of offshore contract drilling services for ...
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