Markets

UPDATE: Canadian Oil Sands Releases 2012 Budget; Shares Edging Higher

Canadian Oil Sands Limited (COS.TO) started the session lower, but has now edged higher to $20.52 by almost 1% compared to yesterday's $20.35 close, after announcing that it plans to invest $1.5 million at the Syncrude project in 2012 to support its strong base of production and implement technologies to accelerate reclamation of tailings, a by-product of the bitumen extraction process.

The company said approximately $974 million will be directed to discrete, major infrastructure projects that should position Syncrude for 10 to 20 years of production while improving operational efficiency and environmental performance.

COS shares closed yesterday's session 2 cents above 20-day SMA $20.33.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos