Tag: Alberta Oil Industry
Canadian Oil Sands overhauls board on brink of Suncor takeover
Ryan Kubik, Donald Lowry no longer with Canadian Oil Sands CALGARY _ Canadian Oil Sands Ltd., on the brink of being taken over by Suncor Energy, has overhauled its senior leadership team and board of directors. Ryan Kubik, who was CEO during the months-long takeover fight, and Donald Lowry, who was board chairman during that […]
Alberta royalty review: Oilsands rates remain the same
Alberta royalty review says rates should also take into account drilling costs CALGARY _ Pent-up anxiety over changes to Alberta’s oil and gas royalties dissipated Friday after the provincial government revealed it’s keeping the status quo for oilsands players and simplifying the system for conventional oil and gas wells. A four-member panel led by Dave […]
Cenovus to cut capital spending by 19%, 2016 plan can handle oil at US$40
Cenovus 2016 capital budget between $1.4B to $1.6B CALGARY _ If Cenovus Energy decides to revive shelved oilsands projects in the coming year, it won’t necessarily be because of a recovery in oil prices. “I’m not in any way looking for a price signal,” CEO Brian Ferguson said on a conference call with analysts Thursday to […]
Questions arise over Canadian Oil Sands as it lays out 2016 spending plans
Canadian Oil Sands fighting hostile takeover bid by Suncor Energy CALGARY _ Canadian Oil Sands Ltd., fighting a hostile takeover bid by Suncor Energy, has laid out spending plans and performance targets for next year that it says demonstrate shareholders are well-served under the status quo. Throughout the heated takeover debate, Suncor (TSX:SU) has cast […]
Alberta oilpatch making the best of it as crude drops toward US$50 a barrel
Alberta oilpatch weathering low commodity prices CALGARY – With oil prices drifting closer to US$50, energy executives in downtown Calgary are trying to stay positive. Apart from the crude drop and stock hit, “everything’s working pretty well” at Cenovus Energy (TSX:CVE) these days, deadpanned Harbir Chhina, the firm’s executive vice-president of oilsands. MEG Energy (TSX:MEG) vice-president John Rogers echoed […]
Suncor CEO says action needed to combat climate change
Suncor CEO Steve Williams says best place to start is at the provincial level Calls for tougher carbon pricing are coming from what may, on the surface, seem like an unlikely source: Calgary business leaders, including the boss of Canada’s biggest oilsands player. “Climate change is happening,” Suncor Energy CEO Steve Williams said in a […]
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