Tag: Alberta Oil Sands

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MEG Energy posts profit as production costs stay at record low

MEG Energy posts profit as production costs stay at record low

MEG Energy announced strategic hedging program By Julie Gordon CALGARY, Alberta, April 28 (Reuters) – MEG Energy Corp , which operates in Canada’s oilsands, reported a first-quarter profit, compared with a loss a year earlier, as it managed to keep production costs at record lows to help cushion the impact of a slump in oil prices. […]

April 28, 2016 | By | Reply More
Canadian Oil Sands overhauls board on brink of Suncor takeover

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 […]

February 8, 2016 | By | Reply More
Canadian Oil Sands claims victory, calls on Suncor to disclose results

Canadian Oil Sands claims victory, calls on Suncor to disclose results

Takeover deal: One quarter of a Suncor share for each Canadian Oil Sands share CALGARY _Canadian Oil Sands is claiming victory in a bitter oilpatch takeover battle, but says shareholders deserve to know exactly how much support the hostile $4-billion bid from Suncor Energy garnered before it was extended past its Friday night deadline. Oilsands […]

January 11, 2016 | By | Reply More
COS shareholders should reject Suncor: Seymour Schulich

COS shareholders should reject Suncor: Seymour Schulich

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 […]

January 5, 2016 | By | Reply More
Questions arise over Canadian Oil Sands as it lays out 2016 spending plans

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 […]

December 1, 2015 | By | Reply More
Canadian Oil Sands can stall Suncor’s hostile bid for a month

Canadian Oil Sands can stall Suncor’s hostile bid for a month

ASC decision strikes a compromise between Canadian Oil Sands and Suncor CALGARY _The Alberta Securities Commission has ruled that Canadian Oil Sands Ltd. can stall a hostile takeover bid by oilsands behemoth Suncor Energy for a month. Although it gives the target company less time than it wanted to seek an alternative to Suncor’s unwelcome advances, […]

November 30, 2015 | By | Reply More
Canadian Oil Sands says shareholders should reject ‘exploitative’ Suncor bid

Canadian Oil Sands says shareholders should reject ‘exploitative’ Suncor bid

Canadian Oil Sands CEO says bid is a ‘takeunder’, not a takeover CALGARY – The board of Canadian Oil Sands Ltd. is telling shareholders to reject Suncor Energy’s $4.3-billion takeover offer, saying it exploits inside information about an oilsands mine partly owned by both companies. Board members have unanimously decided the hostile bid, made two weeks […]

October 19, 2015 | By | Reply More
Canadian Oil Sands responds to hostile Suncor bid with poison pill defence

Canadian Oil Sands responds to hostile Suncor bid with poison pill defence

Canadian Oil Sands largest partner in Syncrude CALGARY – Canadian Oil Sands Ltd. is looking to buy time as it faces a hostile takeover offer from oilsands giant Suncor Energy Inc., announcing Wednesday that it’s adopting what’s known as a poison pill defence. The new shareholder rights plan could be triggered if anyone buys 20 per cent […]

October 7, 2015 | By | Reply More
Moody’s downgrades Teck Resources credit rating amid commodity weakness

Moody’s downgrades Teck Resources credit rating amid commodity weakness

Teck Resources now rated below investment grade TORONTO – Moody’s Investors Service has downgraded the credit rating of Teck Resources Ltd. (TSX:TCK.B) to below investment grade as low commodity prices and high spending squeeze the Vancouver-based miner. “We expect prolonged commodity price weakness and sizable investment spending will cause Teck’s financial leverage to remain well in excess […]

September 14, 2015 | By | Reply More
Linda McQuaig’s oil sands comments demand to be debated

Linda McQuaig’s oil sands comments demand to be debated

Linda McQuaig is a long-time opponent of oil sands, comments surprised no one OMG, you guys, why are critics so MEAN to Linda McQuaig? She’s just telling the truth about leaving the oil sands in the ground, right? This, readers, is the sad state of Canadian political discourse. I’m referencing a recent and widely circulated op-ed in […]

August 22, 2015 | By | 1 Reply More