World Library  
Flag as Inappropriate
Email this Article
 

Canadian Oil Sands

Canadian Oil Sands Limited
Public
Traded as TSX: COS
OTCQX: COSWF
S&P/TSX 60 component
Industry Energy
Founded 1978
Headquarters Calgary
Key people
Marcel R. Coutu (CEO)
Revenue 4.034 billion CAD (2013) [1]
834 million CAD (2013)[1]
Number of employees
25 (2013)[1]
Website .com.cdnoilsandswww

Canadian Oil Sands Limited is a Canadian company that generates income from its oil sands investment in the Syncrude Joint Venture. Syncrude operates an oil sands facility and produces crude oil through the mining of oil sands from ore deposits in the Athabasca region of northern Alberta, Canada. As of January 2, 2007, the company holds a 36.74% interest in Syncrude, which is the largest stake of any of the joint owners.

Contents

  • History 1
  • Operations 2
  • Corporate governance 3
  • References 4
  • External links 5

History

In 1978, Syncrude produced its first barrel of oil.

PanCanadian Petroleum (now Encana) formed Canadian Oil Sands Trust in 1995 with a 10% interest in Syncrude. The following year, Gulf Canada formed Athabasca Oil Sands Trust with an 11.74% interest in Syncrude. Canadian Oil Sands Trust and Athabasca Oil Sands Trust merged in 2001, continuing as Canadian Oil Sands Trust. Canadian Oil Sands Trust increased its interest in Syncrude to 35.5% in 2003. A further purchase of a 1.25% incremental interest brought the trust's interest in Syncrude to its current level of 36.74%.[2] Other investors with a significant shareholding in Syncrude are Suncor Energy Inc., Imperial Oil Ltd., and two major Chinese oil outfits.[3] The trust is reliant on Syncrude for its income, while its partners have other investments.[3]

In 2011, Canadian Oil Sands Trust converted from a royalty trust to a corporation, becoming Canadian Oil Sands Limited.[2]

In October 2015, the company was subject to a hostile takeover bid from Suncor Energy, worth around $3.29 billion. The bid followed rejected advances earlier in the year in March and April.[4]

Operations

Canadian Oil Sand's primary business operation is through its 36.74 per cent interest in Syncrude.[5]

The company also holds some arctic natural gas interests through a wholly owned subsidiary, Canadian Arctic Gas Limited.[6]

The corporate head office is located in Calgary, Alberta.

Corporate governance

Canadian Oil Sand is a limited liability, publicly traded corporation. Current members of the board of directors are: Donald J. Lowry, Ian A. Bourne, Marcel R. Coutu, Gerald W. Grandey, Sarah E. Raiss, John K. Read, Brant G. Sangster, C.E. (Chuck) Shultz, Wesley R. Twiss and John B. Zaozirny, Q.C..[7]

References

  1. ^ a b c Thomson Reuters
  2. ^ a b Canadian Oil Sands Corporate History
  3. ^ a b G+M 30 Oct 2013: "Canadian Oil Sands again cuts Syncrude’s output forecast"
  4. ^ "Suncor Energy launches $4.3 billion hostile bid for Canadian Oil Sands". Reuters. 6 October 2015. 
  5. ^ Toronto Stock Exchange Company Profile
  6. ^ Canadian Oilsands Limited 2011 Annual Information Form
  7. ^ Canadian Oil Sands Limited 2011 Annual Report

External links

  • Canadian Oil Sands Limited Official Website
  • SEDAR company profile
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 



Copyright © World Library Foundation. All rights reserved. eBooks from World eBook Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.