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Author Topic: Canadian Oil Sands profit drops on weak production Back to Topics
Nicoalbum

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Ottawa

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Message Posted: May 1, 2013 11:43:45 PM

Canadian Oil Sands Ltd, which owns the largest stake in Syncrude, said on Tuesday that first-quarter profit fell by nearly half as operating problems and the oil sands facility lowered production.

Canadian Oil Sands, which has a 37% stake in the massive Syncrude tar sands mining and synthetic crude operation in northern Alberta, said profit fell 44% to $177-M, or 37c a share, from a year-earlier $318-M, or 66c.

Analysts, on average, had expected a profit of 41c a share, according to Thomson Reuters I/B/E/S.

During the quarter, sales averaged 95,683 bpd ay net to the company, down 11% from a year earlier, with operating costs averaging C$41.20 a barrel, compared with C$32.58 per barrel last year.

The company said the production drop came on a series of unplanned outages at Syncrude’s op
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REPLIES (newest first) Post a Reply
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investmentdr
Champion Author Cleveland

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Message Posted: May 2, 2013 2:27:06 PM

...and lower prices
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grandpadon28110
Champion Author Charlotte

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Message Posted: May 2, 2013 5:10:39 AM

Bad.
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stefanwaggoner
All-Star Author Bakersfield

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Message Posted: May 2, 2013 3:09:19 AM

We wont be happy till we have squeezed every last drop of oil out of everything
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iFueler
Champion Author Durham

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Message Posted: May 2, 2013 1:47:02 AM


     interesting
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JagXKR
Champion Author British Columbia

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Message Posted: May 2, 2013 12:29:38 AM

It's so sad when the amount of profit is the story. Still making hundreds of millions per year.
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fharri7196
Sophomore Author Miami

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Message Posted: May 2, 2013 12:13:18 AM

Ok
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Migstern
Veteran Author Washington

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Message Posted: May 2, 2013 12:10:25 AM

Ok
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russiam
All-Star Author Cincinnati

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Message Posted: May 2, 2013 12:02:26 AM

Oh
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Taxrefugee
Champion Author Arizona

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Message Posted: May 2, 2013 12:01:33 AM

Okkkkkkk
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amerk73
Champion Author Dallas

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Message Posted: May 1, 2013 11:54:53 PM

cool
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cdrrod
Champion Author Wisconsin

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Message Posted: May 1, 2013 11:52:49 PM

25% profit loss - not good!
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Nicoalbum
Champion Author Ottawa

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Message Posted: May 1, 2013 11:44:25 PM

Canadian oil sands are going through a new harsh time
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