Connacher Oil and Gas Limited is a Calgary-based crude oil and natural gas exploration, development, production and refining company. Our principal asset is a 100 percent interest in approximately 98,000 acres of oil sands leases at our Great Divide project near Fort McMurray, Alberta. The... More
Wednesday, Aug 152012, 2:59 PMConnacher Oil and Gas (CLLZF.PK -12.1%) says it will sell its Montana refinery to Calumet Specialty Products (CLMT +1%) for ~$120M plus working capital, a deal that adds crude oil throughput capacity of ~9,800 bbl/day for CLMT. Connacher, deeply in debt, hopes the asset sale will enable it to survive long enough to find a buyer for the Canadian company. |Wednesday, Aug 152012, 2:59 PM| Comment!
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