NEWS
OPTI Canada Inc. Company News
Recent Articles
Results 31 articles shown
CNOOC Finalizes Acquisition of OPTI
CNOOC announced that CNOOC Luxembourg S.a r.l, an indirect wholly-owned subsidiary of the Company, has completed its acquisition of OPTI Canada Inc.
7:00 PM EST | November 27, 2011
CNOOC Extends Oil Sands Presence with $2.1B Deal
CNOOC has entered into an Arrangement Agreement to acquire OPTI Canada for approx. $2.1 billion.
8:00 PM EST | July 19, 2011
Long Lake Project Sees Increasing Bitumen Production
With the completion of the turnaround at Long Lake, the reservoir is responding to consistent steaming and bitumen production levels are increasing.
7:00 PM EST | February 08, 2010
OPTI Canada Declares 2010 Budget, Sets Aside $92MM for Long Lake
OPTI Canada has approved a $120 million capital program for 2010. OPTI's share of budgeted costs for Phase 1 of the Long Lake Project in 2010 is expected to be approximately $92 million.
7:00 PM EST | December 08, 2009
OPTI Canada Updates on Long Lake Bitumen Production
Currently, steam injection at the Long Lake Project is approximately 75,000 bbl/d and, while early in the ramp-up process, bitumen production now exceeds pre-turnaround levels and is approximately 15,000 bbl/d with 47 well pairs on production.
7:00 PM EST | November 15, 2009
OPTI Canada Unveils Proposed Financing Plan
OPTI Canada intends to offer by way of private placement $425 million of First Lien Senior Secured Notes.
7:00 PM EST | November 15, 2009
OPTI Canada Issues Second Quarter 2009 Results
"We significantly strengthened our financial position recently with the equity offering that closed earlier this month, and we believe we now have the liquidity we require to reach full production at Long Lake in late 2010," said CEO Chris Slubicki.
8:00 PM EST | July 28, 2009
OPTI Closes Equity Offering for Gross Proceeds of $150MM
OPTI has closed its previously announced public offering of 85,720,000 common shares at a price of $1.75 per share for gross proceeds of approximately $150 million.
8:00 PM EST | July 13, 2009
OPTI Updates on Equity Offering
OPTI has provided an update on its previously announced public offering of common shares conducted through a syndicate of underwriters.
8:00 PM EST | June 24, 2009
Oil Sands Cos Still Hesitate on Projects Despite Falling Costs
Costs in Canada's pricey oil sands are starting to fall but nervous developers are still leery of giving the green light to stalled projects.
8:00 PM EST | April 27, 2009
OPTI Canada Underscores Q1 2009 Results
OPTI Canada has noted its financial and operating results for the quarter ended March 31, 2009.
8:00 PM EST | April 27, 2009
OPTI Canada Bids Farewell to President, Welcomes New Leader
OPTI Canada announced today that Sid Dykstra, President and Chief Executive Officer, will be leaving OPTI after the annual and special shareholder meeting on April 28, 2009.
8:00 PM EST | March 16, 2009
OPTI Achieves Significant Oil Sands Milestones in Early 2009
OPTI has reported its financial and operating results for the year ended December 31, 2008.
7:00 PM EST | February 24, 2009
Nexen Clinches Additional Long Lake Interest for $735MM
Nexen has completed the acquisition of an additional 15% interest in the Long Lake project and the joint venture lands from OPTI Canada Inc. for $735 million.
7:00 PM EST | January 26, 2009
Nexen Produces First Premium Sweet Crude at Long Lake
Nexen Inc. has announced first production of Premium Sweet Crude from the upgrader at Long Lake.
7:00 PM EST | January 22, 2009
Nexen Nabs Additional Interest in Long Lake
Nexen has signed an agreement to acquire an additional 15% interest in the Long Lake project and the joint venture lands from OPTI and will become the operator of the upgrader.
7:00 PM EST | December 16, 2008
OPTI Outlines Capital Expenditure Plans, Divests Long Lake Interest
OPTI's capital expenditure plans for 2009 will be significantly reduced
as a result of divesting a 15% working interest in all its joint venture assets to Nexen.
7:00 PM EST | December 16, 2008
Oil Sands Co. OPTI Appoints New Advisors
OPTI has appointed TD Securities to assist in its previously announced review of funding options for its continuing cash requirements in 2009.
7:00 PM EST | November 16, 2008
Suncor Slows Oil-Sands Project, Others May Follow
With other delays expected to follow Suncor's announcement, oil-sands output forecasts could be lowered once more, further curtailing the amount of crude intended for the U.S. and undermining Canada's appeal as an alternative to Middle East Crude.
8:00 PM EST | October 23, 2008
Nexen, OPTI Fire Up Oil Sands Production at Long Lake
Joint-venture partners OPTI Canada and Nexen have marked the grand opening of the Long Lake Project.
8:00 PM EST | October 22, 2008
Nexen Moves Forward with Long Lake Oil Sands Project
Nexen expects to reach full design rates of 72,000 bbls/d of bitumen production, upgraded to approximately 60,000 bbls/d of PSC(TM) in early 2010 at its Long Lake oil sands project.
8:00 PM EST | October 02, 2008
Nexen Ramps Up Production with SAGD at Long Lake
At the end of May, there were 34 well pairs in SAGD production and the producing wells are meeting expectations with oil rates increasing and steam-oil-ratios decreasing.
8:00 PM EST | June 12, 2008
OPTI Canada Approves $540 Million Budget for 2008
OPTI Canada has approved a $540 million capital program for 2008 with $420 million to be directed towards OPTI's share of budgeted project costs to complete Phase 1 of the Long Lake integrated oil sands project
7:00 PM EST | December 04, 2007
Latest Project Aims to Wean Oil Sands Off Natural Gas Habit
While Canada's oil sands are booming, the energy-intensive nature of the projects there are holding the province back from the ranks of the world's trophy deposits.
8:00 PM EST | July 18, 2007
OPTI Canada Closes US$750 Million Senior Secured Note Offering
OPTI Canada's debt financing has been successfully placed with
institutional investors. The financing includes US$750 million of 7.875% senior secured notes due 2014.
8:00 PM EST | July 05, 2007
OPTI Closes $1B Offering
OPTI Canada Inc said Friday that its previously announced debt financings have been successfully placed with institutional investors and banks located in the United States and Canada.
7:00 PM EST | December 14, 2006
OPTI Announces 2007 Capex Program
OPTI Canada has approved its 2007 capital expenditure program. In
2007, OPTI intends to invest a total of $560 million in Phase 1 of the Long Lake integrated oil sands project.
7:00 PM EST | December 05, 2006
OPTI Canada Announces Financing Plan
OPTI Canada Inc. on Thursday said that it has adopted a proposed financing plan consisting of the issuance of up to US$1.0 billion of high-yield senior secured notes.
7:00 PM EST | November 16, 2006
OPTI Announces TSX Approval of Two-for-One Share Split
OPTI Canada Inc. reports that its previously announced two-for-one share split has been approved by the Toronto Stock Exchange (TSX).
8:00 PM EST | May 28, 2006
OPTI Canada Budgets $693 Million on 2006 Capital Program
OPTI Canada says that its Board of Directors has approved a $693 million capital budget for 2006.
7:00 PM EST | December 06, 2005
Nexen, OPTI Receive Approval for Long Lake Oil Sands Project
Nexen Inc. and OPTI Canada Inc. have received approval from the Alberta Energy and
Utilities Board and legislative assent from the Province of Alberta to proceed with the $3.0-billion Long Lake oil sands project.
8:00 PM EST | August 06, 2003