May - Tar Sands Surface Leak; November - "Totally Solvable" Says CEO; March - Another "Update"
Canadian Natural Resources Ltd. has been leaking bitumen to the surface at one of its oil sands sites since last May. In November, the companys president called the problem totally solvable. CNRL this week has another chance to explain to investors and analysts how much progress it has made with the troublesome leaks.
The company reports its fourth-quarter earnings Thursday, and the spills at part of its Primrose oil sands project, as well as a recent $3.1-billion acquisition of natural gas assets, will likely be discussed in its conference call.
In addition to the surface leaks, CNRL in January had an underground spill, releasing 27,000 litres of crude.
[CNRL] continues to work with the Alberta Energy Regulator to resolve the root cause of bitumen emulsion releases, and remains confident that they revolve around mechanical failures in the vertical sections of certain wellbores, as opposed to cap rock issues, Greg Pardy, an analyst at RBC Capital Markets, said in a note previewing the companys results.
EDIT
http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/canadian-natural-resources-to-offer-update-on-leak/article17189174/