Tag: Canadian Oil Sands

Canadian oil sands, US tight oil are twin pillars of North American energy security – IHS

Canadian oil sands, US tight oil are twin pillars of North American energy security – IHS

Potential for Canadian oil sands to replace even more offshore imports of heavy crude to United States Canadian oil sands and US tight oil production have become the twin pillars of North American energy security, accounting for nearly 95 per cent of North American production growth from 2009-2015 and reducing offshore oil imports during that […]

Suncor Energy completes acquisition of Canadian Oil Sands

Suncor Energy completes acquisition of Canadian Oil Sands

Based on today’s closing trading price of Suncor’s common shares on the TSX, acquisition price was $10.17 per COS share Suncor and Canadian Oil Sands Limited announced today that Suncor’s acquisition of COS has been completed following shareholder approval of an amalgamation agreement at a special meeting of COS shareholders this morning. “Today marks the […]

Cenovus job cuts hinted as “hurricane force” headwinds hit industry

Cenovus job cuts hinted as “hurricane force” headwinds hit industry

Cenovus to cut operating, admin costs by $200M CALGARY _ Cenovus Energy Inc. (TSX:CVE) is planning more layoffs this year as part of an effort to cut $400 million to $500 million in costs while it rides out a rough period of low oil and gas prices. “We had a stiff headwind in 2015 which, […]

By February 11, 2016 0 Comments Read More →
Suncor CEO: 1,700 jobs cut in 2015, company ‘overachieved’ on cost cutting

Suncor CEO: 1,700 jobs cut in 2015, company ‘overachieved’ on cost cutting

Suncor does not rule out more oilsands buyouts including MEG Energy, Cenovus CALGARY _The CEO of Canada’s biggest oilsands player says about 1,700 jobs were shed over the past year or so _ far surpassing its original target. Just over a year ago, Suncor Energy (TSX:SU) announced it would be cutting 1,000 jobs because of the […]

By February 4, 2016 0 Comments Read More →
Obama promotes Nigeria’s dirty oil, but rejects Keystone XL…WTH?

Obama promotes Nigeria’s dirty oil, but rejects Keystone XL…WTH?

Canadian oil sands producers pledged to reduce GHG emissions, Alberta introduces strict new climate policies. What has Nigeria done to earn favored status? Now that President Obama and Canadian Prime Minister Justin Trudeau are buds, he needs to explain to his northern neighbor why the USA is promoting dirty Nigerian oil, but rejected Alberta oil […]

Suncor COS takeover: Key things to know about $6.6B deal

Suncor COS takeover: Key things to know about $6.6B deal

Suncor ups offer to $6.6B CALGARY _ Suncor Energy has reached a friendly takeover deal with Canadian Oil Sands after bumping up its all share offer by 12 per cent. The company now is offering 0.28 of a Suncor (TSX:SU) share for each COS (TSX:COS) share, resulting in a $6.6-billion friendly deal between the two […]

By January 18, 2016 0 Comments Read More →
Suncor Energy and Canadian Oil Sands reach agreement to support acquisition

Suncor Energy and Canadian Oil Sands reach agreement to support acquisition

Exchanging Suncor common shares for COS common shares will be taxable transaction for US federal income tax CALGARY, Alta – After a very public hostile takeover, Suncor Energy Inc. announced Monday that it has reached an agreement to buy all of the shares of Canadian Oil Sands Limited. Under the terms of the support agreement Suncor has […]

By January 18, 2016 0 Comments Read More →
Last day for COS shareholders to decide on Suncor bid

Last day for COS shareholders to decide on Suncor bid

COS says it is poised to prosper once crude prices recover CALGARY _ Shareholders in Canadian Oil Sands have until this evening to decide whether to accept a takeover offer from Canada’s dominant oilsands producer. Suncor’s Energy’s hostile all-stock bid, worth just over $4 billion, expires at 6 p.m. MT on Friday. It needs two-thirds […]

By January 8, 2016 0 Comments Read More →
COS shareholders should reject Suncor: Prominent businessman

COS shareholders should reject Suncor: Prominent businessman

Schulich on Suncor deal: “I’m not selling at this price and you shouldn’t either” CALGARY _ A prominent Canadian businessman has taken out full-page newspaper ads to declare his opposition to a hostile takeover of Canadian Oil Sands, but the CEO of Suncor Energy says he believes Seymour Schulich is in the minority. In the […]

By January 5, 2016 0 Comments Read More →
Oil sands cost reductions illustrated by Syncrude 2016 budget

Oil sands cost reductions illustrated by Syncrude 2016 budget

“Syncrude’s success in reducing its cost structure is exceeding market expectations.” – Kubik Canadian Oil Sands Limited (“COS”) today announced its budget for 2016, demonstrating Syncrude’s competitiveness and resilience in a lower oil price environment; operating and capital costs in 2016 will be down significantly from prior years while still enabling production growth. Syncrude Canada Ltd. […]

By December 2, 2015 0 Comments Read More →