CALGARY, Alberta, Dec 10 (Reuters) – Canadian oil producer
Talisman Energy Inc said on Tuesday it has agreed to
sell its stake in the 590,000-barrel-per-day Ocensa oil pipeline
in Colombia to an investment group led by Advent International
for about $595 million as the company focuses operations while
paring its debt.
Talisman, which faces pressure from shareholders to boost
profits and trim its widespread global operations, said the
offloading of its stake in the Colombian pipeline brings the
total proceeds from its asset sales program to $2.2 billion.
CALGARY, Alberta (Reuters) – The head of one of Canada’s top pension funds confirmed on Thursday his firm was involved in talks over a potential buyout of BlackBerry Ltd but said he never saw a business plan he was confident would turn around the once-dominant smartphone maker.
Leo de Bever, chief executive of the C$70 billion ($66.6 billion) Alberta Investment Management Corp (AIMCo), said all of Canada’s biggest pension funds were involved in discussions over BlackBerry’s fate earlier this year as it looked to sell itself following the unsuccessful launch of a new line of phones.
CALGARY (Reuters) – Canada on Wednesday renewed its attack on the European Union’s plan to classify Canadian tar sands oil as particularly dirty and released a study questioning the data behind the controversial measure.
Canada has the world’s third-largest proven reserves of crude, much of which is locked in the tar sands of Alberta. Extracting the oil requires more energy than conventional production, a fact regularly highlighted by environmental campaigners.
CALGARY, Alberta, Nov 6 (Reuters) – Talisman Energy Inc
said it had no immediate plans to split itself in two
despite pressure from activist shareholders looking to boost
returns from the restructuring Canadian oil company.
Talisman, which reported a narrower third-quarter loss on
Wednesday, said it had examined the idea of separating its
operations in the Americas and Asia, an idea touted by some
investors for years, but concluded the time is not right for the
CALGARY, Alberta, Nov 5 (Reuters) – Encana Corp,
Canada’s largest natural gas producer, said on Tuesday it will
cut about 20 percent of its workforce, slash its dividend, and
focus future spending on just five regions rich in oil and gas
liquids as it looks to move away from low-value natural gas
The new plan, which includes the spin off of its historic
Alberta freehold lands into a separate company, is part of new
Chief Executive Doug Suttles’ push to boost earnings and raise
cash flow as the company faces the prospect that natural gas
prices will remain weak for years to come.
CALGARY, Alberta, Oct 18 (Reuters) – TransCanada Corp
said two of its customers in northern Alberta were
still without gas deliveries on Friday after a pipeline break
forced some of the Canadian oil sands’ biggest producers to cut
back their output.
The rupture on TransCanada’s 1.6 billion cubic foot per day
North Central Corridor pipeline occurred on Thursday in a remote
area about 140 kilometers (90 miles) west of Fort McMurray,
Alberta and disrupted supplies for much of the day.
CALGARY, Alberta, Oct 17 (Reuters) – Some of Canada’s
largest oil sands producers began scaling back production on
Thursday after their natural gas supplies were cut back due to a
pipeline rupture on TransCanada Corp’s regional Nova
Suncor Energy Inc said it is slowing operations at
its oil sands projects north of Fort McMurray, Alberta, where
production averaged 365,000 barrels per day last month.
TORONTO/CALGARY (Reuters) – Talisman Energy Inc (TLM.TO: Quote, Profile, Research, Stock Buzz) shares fell on Tuesday as investors raised doubts that activist investor Carl Icahn would be able to force dramatic changes on the struggling Canadian oil producer.
Icahn disclosed a 6 percent stake in Talisman late on Monday, making him its second-largest shareholder, according to Reuters data. It is the second time Icahn has taken a position in Talisman. He acquired 4.8 million shares in 2007, when the company was facing pressure to boost its share price.
TORONTO/CALGARY (Reuters) – Talisman Energy Inc (TLM.TO: Quote, Profile, Research, Stock Buzz) shares rallied in trading before the bell on Tuesday on news that Carl Icahn has built a stake in the company, but doubts remain about whether the billionaire investor will be able to force dramatic changes.
Investors and analysts see Icahn’s involvement in Talisman breathing life into the stock in the short-term, but many are wary, as the company has been working through a restructuring process under new management for over a year now and the results so far have been mixed at best.
CALGARY, Alberta, Oct 7 (Reuters) – Talisman Energy Inc
shares surged in after-hours trading on Monday
after activist investor Carl Icahn said he had purchased about
61 million shares of the underperforming Canadian oil producer
and may seek a seat on the company’s board.
Talisman’s New York Stock Exchange-listed shares surged 10.9
percent in after-hours trading after Icahn revealed the stake.
The stock closed at $12.75 in New York on Monday.