French supermajor oil company Total SA (NYSE:TOT) has let its offer for Canada’s UTS Energy Corporation expire. Total failed to get tenders for two-thirds of UTS’s shares, and has directed the tender…
Douglas A. McIntyre Two of the largest players in the Canadian oil sands, Suncor Energy Inc. (NYSE: SU) and Petro-Canada (NYSE:PCZ) announced that Suncor will acquire Petro-Canada in a deal valued at $15.5 billion. Shareholders…
Douglas A. McIntyre Yesterday’s New York Times carried a story about the commercial building boom in Calgary, Alberta. About 75% of Calgary’s office space is occupied by companies involved in extracting fossil fuels, and much…
It is probably no huge shock that downgrades are coming more than upgrades now that oil has come down so much. Too bad these were not the calls several months ago. Here…
Suncor Energy Inc. (NYSE:SU) reports today that production from its oil sands operations averaged 235,000 barrels/day for December. In October, production averaged 258,000 barrels/day. Third quarter production averaged 261,000 barrels/day. This is…
Douglas A. McIntyre SRI Consulting published a new report on producing crude oil from western Canada’s oil sands deposits. The report concludes that "with rational engineering and prudent business decision making, grass roots tar sands…
Douglas A. McIntyre These are some of the top pre-market upgrades and downgrades we have seen from Wall Street analysts this Monday morning: Devon Energy (DVN) Raised to Buy at Jefferies. EnCana (ECA) Raised to…
Canadian oil company Suncor (NYSE:SU) today reported quarterly earnings of $815 million ($0.87 EPS), compared with analysts’ estimates for EPS of $0.95. Higher prices for the company’s synfuel production contributed to the…
Douglas A. McIntyre Before today’s opening bell, four players in the oil patch released their second quarter numbers. Suncor (NYSE:SU), Enterprise Products Partners (NYSE:EPD), EnCana (NYSE:ECA), and Smith International (NYSE:SII) all posted good numbers, but…
These are ten of the analyst calls with upgrades and downgrades we are focusing on this Monday morning in pre-market trading: Acme Packet (NASDAQ: APKT) cut to Underweight at JPMorgan; cut to…
We already noted how Goldman Sachs Group (NYSE: GS) has raised its average oil prices for the years ahead, but the firm has also raised its OIL SERVICES Sector ratings this morning…
GM (GM) falls as sales appear to falter. Down to $16.87 from 52-week high of $43.20. The Colonial BancGroup (CNB) Worries about bank failures push shares down to $5.65 from 52-week high…
Maybe not all companies want to try the "high price stock" game. Tonight, Suncor Energy Inc. (NYSE: SU) announced it would pursue a two-for-one stock split. With a price at $102.84 it…
Douglas A. McIntyre 