Canadian Oil Sands Trust Company News

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Suncor Cuts Spending After Surprise Loss on Asset Writedowns
Suncor Energy cuts spending by about 10% this year amid writedowns on the value of Canadian, Libyan and offshore assets.
7:00 PM EST | February 03, 2016
Suncor Reaches Deal To Buy Canadian Oil Sands With Sweetened Offer
Suncor Energy has reached a deal to acquire rival Canadian Oil Sands by raising its all-stock offer.
7:00 PM EST | January 17, 2016
Suncor Says Canadian Oil Bid Extension Highly Improbable
Suncor Energy's top executive said it was "conceivable but highly improbable" that Suncor will extend a hostile takeover bid for Canadian Oil Sands beyond this week's deadline.
7:00 PM EST | January 03, 2016
Suncor Bid for Canadian Oil Sands Pits Promise Against Results
As Canadian Oil Sands Ltd. tries to fend off Suncor Energy Inc.'s C$4.5 billion ($3.2 billion) bid, the latest upset at its only business couldn't have come at a worse time.
7:00 PM EST | December 21, 2015
Canadian Oil Sands 2016 Capex Budget 35% Lower than 2015
Canadian Oil Sands sets a capital spending target of $221 million for 2016, down about 35 percent from the estimated budget for 2015.
7:00 PM EST | November 30, 2015
Canadian Oil Sands Rejects Suncor Hostile Takeover Offer
Canadian Oil Sands asks its shareholders to reject Suncor Energy's offer, saying it "substantially undervalued" the company and was "entirely opportunistic".
8:00 PM EST | October 18, 2015
Diamond Offshore Sees Weak Demand, Scraps Special Dividend
Rig contractor Diamond Offshore Drilling expects a significant number of ultra-deepwater rigs to be idled across the industry by year-end as oil producers' capital budget is likely to be lowered by a fifth this year.
7:00 PM EST | February 08, 2015
Canadian Oil Sands Ramps Up Production at Syncrude
Canadian Oil Sands announced that crude oil production from the Syncrude facility is now estimated to total 105 million barrels (38.6 million barrels net to the Trust) for 2010.
8:00 PM EST | September 23, 2010
Canadian Oil Sands Spotlights 1Q10 Increase
Canadian Oil Sands announced first quarter 2010 cash from operating activities of $309 million ($0.64 per Unit) compared with $50 million ($0.10 per Unit) in the same quarter in 2009.
8:00 PM EST | April 28, 2010
Canadian Oil Sands Trust Posts Lower 4Q Earnings
Canadian Oil Sands Trust announced cash from operating activities of $328 million for the fourth quarter of 2009.
7:00 PM EST | January 28, 2010
Canadian Oil Sands Launches Consent Solicitation
Canadian Oil Sands launched a consent solicitation to amend the indentures relating to its 5.8% Senior Notes due 2013, its 7.75% Senior Notes due 2019, its 7.9% Senior Notes due 2021 and its 8.2% Senior Notes due 2027.
7:00 PM EST | January 10, 2010
Canadian Oil Sands Underscores 2010 Budget
"We expect steadier operations in 2010 with production averaging 315,000 barrels per day, or about 90 percent of Syncrude's current design capacity," said Marcel Coutu, Canadian Oil Sands' President and Chief Executive Officer.
8:00 PM EST | October 28, 2009
Canadian Oil Sands Trust Posts 2Q Financial Results
"Although the first half of 2009 was very challenging operationally, the largest impact to our results was the weaker crude oil prices year-over-year," said Canadian Oil Sands Trust's CEO, Marcel Coutu.
8:00 PM EST | July 26, 2009
Canadian Oil Sands Suspends Distribution Reinvestment Plan
Canadian Oil Sands Trust is suspending its premium distribution, distribution reinvestment and optional unit purchase plan effective July 25, 2009.
8:00 PM EST | June 22, 2009
Canadian Oil Sands Prices $500MM of Senior Notes
Canadian Oil Sands has agreed to issue $500 million principal amount of 7.75% senior unsecured notes, which mature on May 15, 2019.
8:00 PM EST | May 05, 2009
Canadian Oil Sands Trust Posts Lower Profits for First Quarter '09
Canadian Oil Sands Trust announced first quarter 2009 cash from operating activities of $50 million compared with $441 million in the same quarter in 2008.
8:00 PM EST | April 28, 2009
Canadian Oil, Gas Cos Cut Back 2009 Spending But Not Output
Despite sharp cuts to their spending plans for 2009, Canada's oil and gas companies are aiming to maintain or even increase current production levels.
7:00 PM EST | December 11, 2008
Canada's Oil Firms Pull Back
Canada's major energy companies are tightening their belts after a stellar earnings season, as the stresses in financial and commodity markets presage tougher times ahead.
7:00 PM EST | November 11, 2008
Canadian Oil Sands' Cash from Operating Activities Up 62%
Canadian Oil Sands Trust announced that cash from operating activities in the second quarter of 2008 increased 27% to $413 million over the same 2007 period.
8:00 PM EST | July 29, 2008
Canadian Oil Sands Reserves 'Virtually Unchanged'
The best estimate of proved plus probable reserves of 4.9 billion barrels of fully upgraded synthetic crude oil remains virtually unchanged from 5 billion barrels at December 31, 2006.
8:00 PM EST | March 09, 2008
Canadian Oil Sands 2008 Budget Includes 115 Million Barrels
Canadian Oil Sands Trust's annual 2008 Syncrude production is estimated to total 115 million barrels with a range of 110 to 120 million barrels.
7:00 PM EST | December 16, 2007
Canadian Oil Sands Announces CFO Change
Canadian Oil Sands Trust said Thursday Allen Hagerman, FCA, has decided to move from his full-time position as Chief Financial Officer of the Trust's wholly-owned subsidiary, Canadian Oil Sands Limited.
7:00 PM EST | December 07, 2006
Canadian Oil Sands Chief: Production Up, Capex Down in 2007
Canadian Oil Sands Trust late Thursday announced its budget for 2007, which includes production targets, estimated capital expenditures and a revised financial plan following proposed income trust tax changes by the federal government.
7:00 PM EST | December 07, 2006
Talisman Energy Monetizes Oil Sands Assets
Talisman has entered into an agreement to sell its indirect 1.25% interest in Syncrude to Canadian Oil Sands Limited for approximately $475 million, comprised of $237.5 million in cash (subject to closing adjustments) and 8,189,655 units of COS.
7:00 PM EST | November 29, 2006
Canadian Oil Sands Takes Up 78% of Canada Southern Petroleum Shares
Canadian Oil Sands Trust has taken up approximately 11.7 million common shares of Canada Southern Petroleum Ltd.
8:00 PM EST | September 07, 2006
Canada Southern Pleased with Strong Support for Canadian Oil Sands Offer
Canada Southern Petroleum Ltd. on Saturday acknowledged that Canadian Oil Sands has taken up and paid for approximately 65% of the outstanding common shares of Canada Southern validly deposited under its US$13.10 per share all-cash offer.
8:00 PM EST | August 20, 2006
Canadian Oil Sands Takes Up Shares Tendered to Canada Southern Offer
Canadian Oil Sands Trust (the "Trust") on Saturday announced that its wholly owned subsidiaries, Canadian Oil Sands Limited and 1212707 Alberta Ltd., have taken up the 9.8 million common shares of Canada Southern Petroleum Ltd.
8:00 PM EST | August 20, 2006
Canadian Superior Finds Canada Southern's Assessment Surprising
In response to Canada Southern Petroleum Ltd.'s press release of August 11, 2006, Canadian Superior Energy Inc. said Monday that it is surprised by Canada Southern's pessimistic view of its own Arctic natural gas interests.
8:00 PM EST | August 13, 2006
Canadian Superior Files Amended Offer for Canada Southern
Canadian Superior Energy Inc. said Wednesday that it has filed a notice of variation and extension relating to its amended offer for Canada Southern Petroleum Ltd.
8:00 PM EST | August 08, 2006
Canadian Oil Sands Extends Canada Southern Offer
Canadian Oil Sands Trust, through its subsidiaries, has extended the expiry date for its all-cash offer for all of the outstanding common shares of Canada Southern Petroleum Ltd.
8:00 PM EST | July 31, 2006
Canada Southern Maintains Support for Canadian Oil Sands Bid
The board of Canada Southern Petroleum Ltd. on Friday commented on Canadian Superior Energy Inc.'s announced intention to amend its offer to purchase all outstanding common shares of Canada Southern.
8:00 PM EST | July 27, 2006
Canada Southern Board Favors Revised Canadian Oil Sands Bid
The board of directors of Canada Southern Petroleum Ltd. on Thursday released the following letter to its shareholders regarding its recommendation to accept the revised offer from a wholly owned subsidiary of Canadian Oil Sands Trust.
8:00 PM EST | July 19, 2006
Canada Southern Agrees to Canadian Oil Sands’ Higher Bid
The board of directors of Canada Southern Petroleum Ltd. on Thursday announced that it has agreed to terms on a revised offer from a wholly owned subsidiary of Canadian Oil Sands Trust.
8:00 PM EST | July 12, 2006
Canada Southern Recommends Acceptance of Canadian Oil Sands Offer
Canada Southern Petroleum recommends that shareholders accept the offer from Canadian Oil Sands to purchase all of the outstanding common shares of Canada Southern and reject the offers from Canadian Superior and Petro-Canada.
8:00 PM EST | June 25, 2006
Canadian Oil Sands Looks to Acquire Canada Southern
Canadian Oil Sands Trust reports that its wholly owned subsidiary, Canadian Oil Sands Limited, has agreed to make an offer to purchase all of the outstanding common shares of Canada Southern Petroleum Ltd. (CSP) for cash consideration of US$9.75 p
8:00 PM EST | June 18, 2006
Canadian Oil Sands Trust Releases 2003 Year-End Reserves
Canadian Oil Sands Trust has filed its 2003 year-end reserves information, which show no significant revisions from prior disclosure.
7:00 PM EST | March 22, 2004