I see T. Boone Pickens has been hot in the oil biz...T. Boone Pickens making loads on big Suncor stake
Posted: May 21, 2008, 2:37 PM by Jonathan Ratner
Energy
network.nationalpost.com
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 oil and gas wells, and oilfield service firm Schlumberger Ltd., rounded out the top four, which were all energy related and accounted for 40% of the total.
Suncor was one of the fund’s top performers, climbing more than 34% in the first quarter.
And--Another Day, Another Dollar....
T Boone Pickens Buys Transocean Inc., Halliburton Company, XTO Energy Inc., Sells Exxon Mobil Corp., Anadarko Petroleum Corp., Valero Energy Corp.
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