CALGARY, Feb. 8, 2016 /CNW/ - (TSX: COS) — Canadian Oil Sands Limited ("COS") today announced the new membership of the COS Board of Directors and senior leadership team. Effective immediately, COS Board is now composed of the following individuals: Ernest F.H. (Harry) Roberts, Chair Maureen McCaw Mel Benson Steve Reynish Alister Cowan Effective immediately, COS senior leadership team is now composed of the following individuals: Sandy Martin, President and Chief Executive [Read more]
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COS, on brink of being taken over by Suncor, overhauls board, leadership team
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 time, are no longer on the roster.The new CEO is Sandy Martin, vice-president of strategy and commercial development at Suncor (TSX:SU).Harry Roberts, the new board chairman, was a senior vice-president at Suncor before his [Read more]
Saskatchewan has idea to get laid-off oil workers cleaning up abandoned wells
REGINA - Saskatchewan wants the federal government to bankroll a program that would see oil and gas workers who have lost their jobs clean up abandoned and dormant wells.Premier Brad Wall says it would help stimulate employment in the oil-and-gas sector and accelerate environmental cleanup of wells that are no longer capable of production.Wall says he has pitched the proposal, which would cost Ottawa $156 million, to Prime Minister Justin Trudeau."Here is a chance for us to actually put people [Read more]
Petrus Resources Announces Listing of Shares on Toronto Stock Exchange
CALGARY, ALBERTA--(Marketwired - Feb. 8, 2016) - Petrus Resources Ltd. (TSX:PRQ) ("Petrus" or the "Company") is pleased to announce the listing of its shares on the Toronto Stock Exchange ("TSX") under the symbol "PRQ". The listing is a milestone event for Petrus, which was formed as a private energy company in 2011 with a strategy of enhancing shareholder value through investment in acquisitions and organic drilling in Alberta. The Company's production has grown to 9,000 boe/d currently, with [Read more]
Stonehaven Exploration: Cancellation and Issuance of Stock Options
CALGARY, AB--(Marketwired - February 08, 2016) - Stonehaven Exploration Ltd. ("Stonehaven" or the "Company") (TSX VENTURE: SE) reports that it has cancelled an aggregate of 627,050 options to purchase common shares of the Company previously granted under its stock option plan to certain directors, officers and employees of the Corporation. The cancelled options had an exercise price of $1.40 per share and expired February 27, 2020. The Company has issued 93,150 options to purchase common shares [Read more]
Platts Report: China Oil Demand Contracts 0.8% Year over Year in December
SINGAPORE, Feb. 7, 2016 /PRNewswire/ -- China's apparent* oil demand contracted by 0.8% in December 2015 from a year earlier to 11.35 million barrels per day (b/d), according to a just-released Platts China Oil Analytics report on the latest Chinese government data. Refinery throughput in December averaged 10.84 million b/d, a record high volume, data from the country's National Bureau of Statistics (NBS) showed January 19. This was a 1.4% increase both year on year and month on month. Net [Read more]
Suncor Energy announces successful acquisition of 72.9% of Canadian Oil Sands shares
CALGARY, ALBERTA--(Marketwired - Feb. 5, 2016) - Suncor announced today that approximately 72.9 per cent of Canadian Oil Sands shares ("COS") equating to 353,307,264 common shares and accompanying rights have been tendered to Suncor's Offer. Suncor will take up all tendered shares and those shares will be paid for in accordance with the terms of the Offer, initially made October 5, 2015 and most recently amended January 22, 2016. All shares tendered were held by "Independent Shareholders" as [Read more]
Husky Energy Announces Short Term Hedging Plan
CALGARY, AB--(Marketwired - February 05, 2016) - Husky Energy (TSX: HSE) announced today that it has put in place a short term hedging plan for a portion of its oil production. Husky generally manages commodity price risk through its strong balance sheet and integrated business model, rather than financial instruments. The objective of this short term hedging plan is to support the delivery of the 2016 business plan by limiting downside price exposure in this volatile environment. The Lima [Read more]
BHP Billiton puts up $20M for carbon capture research centre in Saskatchewan
REGINA - A multinational petroleum and mining company has invested $20 million to help establish a Saskatchewan-based centre to study carbon capture.Dean Dalla Valle of BHP Billiton says the research facility in Regina will build impetus for carbon capture projects internationally.Saskatchewan Premier Brad Wall announced the centre last fall.He says the technology is important because the world's fastest- growing countries still rely on coal.It's hoped the new centre will attract governments, [Read more]
Clark says B.C.’s economic engine needs cash from Ottawa to continue at top spot
British Columbia is Canada's only economic bright spot and the federal government needs to financially back mega-projects in the province that are good for the country, said Premier Christy ClarkClark met with Prime Minister Justin Trudeau Friday in Ottawa, where she said she pitched federal support for Metro Vancouver transit projects and a proposed billion-dollar upgrade of the hydro grid between B.C. and Alberta as a way to shut down Alberta's use of coal-fired power plants.The province needs [Read more]