Obsidian Energy launches formal strategic review including possible sale

Obsidian Energy launches formal strategic review including possible sale
CALGARY — Obsidian Energy Ltd. says it has launched a formal process to explore strategic alternatives, including the possible sale of the company. Formerly known as Penn West Petroleum Ltd., Obsidian says the process is intended to maximize shareholder value. Obsidian cautioned that there could be no assurance of any particular outcome as a result of the review. Last month, a sale... Read More

Suncor to spend $1.4B to replace coke-fired boilers with cogeneration units

Suncor to spend $1.4B to replace coke-fired boilers with cogeneration units
CALGARY — Suncor Energy Inc. says it will spend $1.4 billion to replace its coke-fired boilers with two cogeneration units at its oilsands base plant north of Fort McMurray, Alta. The company says the units will provide steam generation for its extraction and upgrading operations and generate 800 megawatts of power. The change will also help reduce costs. Suncor says... Read More

CMHC reports annual pace of housing starts climbed 1.9 per cent in August

CMHC reports annual pace of housing starts climbed 1.9 per cent in August
OTTAWA — Canada Mortgage and Housing Corp. says the pace of new housing starts in August climbed 1.9 per cent compared with July. The housing agency says the seasonally adjusted annual rate of housing starts rose to 226,639 units in August, up from 222,467 units in July. Economists on average had expected an annual pace of 215,000, according to financial... Read More