Canadian Oil Sands Trust, Calgary, (Toronto: COS.UN) has increased its bid for Canada Southern Petroleum Ltd., Calgary, (Toronto: CSW; Nasdaq: CSPLF) to US$11.10 per share for a total deal value of approximately US$161 million. The new bid tops the most recent bid from Petro-Canada, Calgary, (NYSE: PCZ; Toronto: PCA) for US$11 per share. Canadian Oil Sands is offering the deal through its subsidiaries Canadian Oil Sands Ltd. and 1212707 Alberta Ltd. The board of Canada Southern recommended its shareholders accept the most recent bid from Canadian Oil Sands.
Recommended Reading
US Natural Gas Prices Hold Near 12-week High on Rising Outages
2024-09-24 - U.S. natural gas futures held near a 12-week high as some Gulf Coast oil and gas producers cut output ahead of a possible hurricane.
Hurricane Threatens LNG and Power Demand as Francine Forms in GoM
2024-09-09 - LNG export plants and offshore oil platforms in the Gulf of Mexico are already taking a hit as as Francine strengthens.
US Natgas Prices Hold Near 1-week Low Ahead of Hurricane Milton
2024-10-08 - Lower output and higher demand forecasts offset expectations Hurricane Milton could cause millions of homes and businesses to lose power in Florida later this week.
Cove Point LNG Poised for Restart After Maintenance
2024-10-10 - Cove Point LNG is set to come back online soon, Rystad Energy said Oct. 10, as natural gas futures rose 1% on forecasts for higher demand and the return of the facility to operational status.
Analysts: ‘Rare’ Summer NatGas Drawdown May Occur
2024-08-15 - A natural gas storage withdrawal for the Lower 48 may be in the cards this summer, the first to occur since 2016.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.