Enerplus has closed the previously announced sale of our % working interest in the Kirby oil sands lease for proceeds of $ million. Enerplus Resources Fund of Calgary has sold its Kirby oilsands leases for $ million and is spending. Canadian Acquirer-Enerplus Resources Fund has sold its Kirby oil sands lease for $ million and says it has invested $ billion in light oil.
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Enerplus Resources Fund, a Calgary-based oil enerrplus gas trust, will go ahead with the planned sale of its minority stake in the Joslyn oil sands project in northern Alberta, the company said Friday as it reported higher profit and revenue.
If you encounter a comment that is abusive, click the “X” in the upper right corner of the comment box to report spam or abuse. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, and please keep your comments relevant and respectful. This was done because of changes in the taxation rules for income trusts. The assets are now producing about barrels per day of crude oil and there are proved plus probable reserves of 10 million barrels of oil equivalent.
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Click here to subscribe. The company had said earlier this year it would keep Kirby on ice while it evaluates options such as selling the asset or entering into a joint venture. Sign in to complete account merge. This page was last edited on 12 Augustat Already have an account?
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House Democrats introduce plan kiryb reopen government. Article text size A. Two dead, nearly 30 wounded in explosion at shopping mall in Philippines. This was the largest American acquisition by a Canadian oil and gas income trust to that time.
Create a new password. I’m a print subscriber, link to enefplus account Subscribe to comment Why do I need to subscribe? Postmedia wants to improve your reading experience as well as share the best deals and promotions from our advertisers with you. The deal is expected to close on or about April From Wikipedia, the free encyclopedia.
Enerplus confirms sale of stake in Joslyn – The Globe and Mail
It has three main areas of operation:. Due to technical reasons, we have temporarily removed commenting from our articles. Production at Joslyn should reach 10, barrels per day by while work is under way to prepare for surface mining to boost output significantly over the next decade. We’ve sent you an email with instructions to create a new password.
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Enerplus to buy 90% stake in Kirby Oil Sands
Comments We encourage all readers to share their views on our articles and blog posts. In its financial report, Enerplus said enerp,us earned 82 cents a unit for the three months ended March 31, compared with 88 cents a unit for the previous year’s period.
It was Canada’s first income trust. By clicking “Create Account”, I hearby grant permission to Postmedia to use my account information to create my account. All articles lacking reliable references Articles lacking reliable references from May Official website different in Wikidata and Wikipedia. Your existing password has not been changed. Total Canada would seem a likely buyer for Enerplus’s stake, especially if the French oil company wants to expand its share of production of the oil sands project to feed future refining operations to give the company more value-added oil products to sell.
Sign In Create Account. We’ve sent an email with instructions to create a new password. The Enerplus announcement reflects a trend for energy trusts to move from conventional plays into the larger, less risky oil sands, analyst William Lacey, with FirstEnergy Kjrby said. Follow us on Twitter globebusiness Opens in a new window.
In addition to the Joslyn assets, the company also has a stake in the Surmont leases as the French-owned company expands to become a growing Alberta oil sands developer. We aim to create a safe and valuable space for discussion and debate.
Enerplus confirms sale of stake in Joslyn
InMark Resources renamed itself Enermark, became an income trust, and joined the Enerplus group of companies. Visit our FAQ page for more information. With your existing enerpluw from: