Tale of the tape: A quick look at Suncor Energy and Canadian Oil Sands

CALGARY -- Suncor Energy and Canadian Oil Sands have tentatively agreed to a merger valued at $6.6-billion based on Friday's stock price in one of the biggest deals the oilpatch has seen in recent years.

See Full Article

Here's a quick look at the two companies:

Suncor Energy:

Founded in 1967, Suncor Energy has grown to become one of the largest energy companies in North America. At the end of 2014, it employed 13,980 people, though it has laid off about 1,200 workers since then.

Canadian Oil Sands:

The company began as the Canadian Oil Sands Trust in 1995. It has about 30 staff.

------

Suncor Energy assets:

Suncor is Canada's dominant oilsands player, producing 430,300 barrels a day in the third quarter ended Sept. 30. That doesn't include its current 12 per cent Syncrude stake, which produced 28,100 barrels a day for Suncor in that quarter. The company also has four refineries and a network of about 1,500 Petro-Canada retail and wholesale outlets. It also operates the Terra Nova offshore platform in the North Atlantic. In recent years, it has diversified into clean energy projects, with seven wind power developments and a biofuels plant in Ontario.

Canadian Oil Sands assets:

The company has a 37 per cent share in Syncrude, its sole asset.

------

Suncor Energy stock price:

Suncor's stock was trading at $29.98 on the TSX, down $1.24, just before 12 p.m. ET.

Canadian Oil Sands stock price:

Shares in COS were at $8.36 on the TSX, up $0.88, just before 12 p.m. ET.



Advertisements

Latest Economic News

  • Samsung, surmounting legal woes, logs record profit on chips

    Economic CTV News
    SEOUL, Korea, Republic Of -- After a tumultuous year when its chief was jailed and its fire-prone smartphones were recalled and then discontinued, Samsung Electronics has reported record high quarterly earnings thanks to booming demand for memory chips. Source
  • Suncor posts higher net earnings despite oilsands production shortfall

    Economic CTV News
    CALGARY -- Suncor (TSX:SU) is reporting higher net earnings in the second quarter despite lower than expected oilsands production due to maintenance down time at its northern Alberta projects. The company says it had net earnings of $435 million or 26 cents per share in the three months ended June 30, compared with a net loss of $735 million or 46 cents per share in the same period last year, during which a wildfire near Fort McMurray, Alta. Source
  • West Fraser Timber Co. to buy U.S. lumber business for US$430 million

    Economic CTV News
    VANCOUVER - Canadian forestry company West Fraser Timber Co. says it has agreed to buy a U.S. lumber business for about US$430 million. B.C.-based West Fraser says it will acquire the operations of the Gilman Companies from the Howard Gilman Foundation and other shareholders. Source
  • Barrick Gold to talk with Tanzania about US$190-billion tax bill

    Economic CTV News
    TORONTO -- Barrick Gold Corp. (TSX:ABX) said in its quarterly results that it will start discussions with the Tanzania government next week on a precious-metal export ban and other issues impacting its majority-owned Acacia Mining company. Source
  • Facebook's ads just keep creeping into new apps

    Economic CTV News
    NEW YORK -- Scrolling through an ad-free Instagram is now a distant memory, much like the once ad-free Facebook itself. Soon, users of its Messenger app will begin to see advertisements, too -- and WhatsApp may not be too far behind. Source
  • Sears Canada shuts down Facebook comments amid flood of angry messages

    Economic CBC News
    After getting flooded with angry comments about its treatment of laid-off workers, and by calls for a boycott, Sears Canada is no longer allowing public posts on its Facebook site. It appears the retailer has also removed all comments made after July 6, though some earlier, negative posts still linger on the site. Source
  • Whole Foods sales struggle shows Amazon buying a fixer-upper

    Economic CTV News
    AUSTIN, Texas -- Amazon is set to have a fixer-upper on its hands, with Whole Foods reporting that a key sales figure declined again. The grocery chain said Wednesday that sales fell 1.9 per cent at established locations for the three months that ended July 2. Source
  • Facebook profit, revenue smash estimates as mobile ad sales soar

    Economic CBC News
    Facebook Inc. crushed quarterly profit and revenue estimates on Wednesday as the social media giant's push into video ads helped bolster its fast-growing mobile ad business. The company's shares were up 1.4 per cent at $168 US after the bell. Source
  • B.C.'s LNG outlook dims after $36B Pacific NorthWest LNG project scrapped

    Economic CTV News
    VANCOUVER - Experts say dreams of a booming liquefied natural gas industry in British Columbia appear to be evaporating, at least for the foreseeable future, after Petronas and its partners scrapped a $36-billion megaproject in the province. Source
  • Via Rail seeks to limit scope of wheelchair and mobility aid policy

    Economic CTV News
    TORONTO -- Via Rail is trying to limit the scope of a policy to make its trains more accessible to travellers using wheelchairs and mobility aids. The national rail provider had revised its policy in May in compliance with an order from the Canadian Transportation Agency, which directed Via to double the number of mobility devices that could be tied down on trains from one to two. Source