Canadian Oil Sands is a pure investment opportunity in light, sweet crude oil. Through our 36.74% interest in the Syncrude project, we offer a solid, robust production stream of fully upgraded crude oil, exposure to future crude oil prices, potential growth through high-quality oil sands leases... More
Thursday, Jan 94:31 PM
Thursday, Jan 94:31 PM| 8 Comments
- KKR says it will open its first Canadian office next month in Calgary, the capital of Canada's oil patch, as it seeks to tap into growing demand for private-equity financing in the region and expand its presence in the global energy industry.
- KKR Director Brandon Freiman, who will relocate from the NYC headquarters to start up the new office, is eyeing investment of $500M to "several billion dollars" over the next five years in upstream oil and gas production, midstream pipelines and related infrastructure as well as energy services businesses.
- The planned investments will include providing financing instead of outright takeovers, KKR says.
- Canadian energy names on the radar: SU, IMO, BTE, SOQ, ERF, CVE, COSWF, AAV, BXE, CNQ.
Wednesday, Jul 312013, 8:38 AM
Wednesday, Jul 312013, 8:38 AM| Comment!
- Canadian Oil Sands (COSWF.OB), the largest partner in the Syncrude Canada oil sands mine, posts Q2 earnings that missed expectations and announces the retirement of CEO Marcel Coutu.
- Q2 EPS was $0.45 vs. $0.53 consensus but more than double the $0.21 from a year ago; sales were $921M, up from $740M.
- Reduces 2013 production outlook for the second time this year, to 100M-104M barrels.
- Coutu has been at the helm of Syncrude since Aug. 2001.
Wednesday, Jul 102013, 10:52 AMNewmont Mining (NEM -1.1%) agrees to sell its ~6.5% stake in Canadian Oil Sands (COSWF.OB) for ~C$608M ($578M) to a banking syndicate that will then offer the shares to various buyers. NEM is among gold companies that spent big on acquisitions in a decade-long bull market which are now selling assets as gold’s price tumbles. |Wednesday, Jul 102013, 10:52 AM| 1 Comment
Friday, Feb 12013, 10:13 AMCanadian Oil Sands' (COSWF.OB) Q4 EPS fell to C$0.46 from C$0.48, while cash flow improved to C$0.86/share from C$0.75. COS projects 2013 cash flow at C$2.16/share, below 2012's C$3.26. CEO Marcel Coutu says COS is looking at acquiring Murphy Oil’s (MUR) stake in the Syncrude project; MUR wants to sell its 5% stake, which produced 299 bbl/day in Q4. |Friday, Feb 12013, 10:13 AM| 1 Comment
Friday, Nov 302012, 9:34 AMCanadian Oil Sands (COSWF.OB) says it plans to invest ~C$1.3B in the Syncrude joint venture (also: NXY, SU, SNP) next year to revamp mining infrastructure to produce stable volumes of light crude. The company also says its balance sheet is stronger than it had expected, and it plans to maintain its C$0.35/share quarterly dividend throughout next year. |Friday, Nov 302012, 9:34 AM| Comment!
Tuesday, Jun 52012, 11:33 AMCanadian Oil Sands (COSWF.PK), largest owner of the Syncrude Canada JV, says syncrude production dropped 41% in May because of work on the 8-3 coker unit at its upgrader in Alberta. May production fell to 196K bbl/day from 330K in April; the company cuts its 2012 synthetic oil production estimate to 301K bbl/day due to the maintenance turnaround. |Tuesday, Jun 52012, 11:33 AM| Comment!
Friday, Dec 32010, 2:02 PM
Friday, Aug 222008, 12:33 PM