This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Connacher Oil earns $47.76-million in Q3 2009-11-11 18:34 ET - News Release Mr. R.A. Gusella reports CONNACHER CONTINUES STRONG EARNINGS PERFORMANCE DURING THIRD QUARTER 2009; ALGAR CONSTRUCTION REACTIVATED AND PROCEEDING FAVORABLY, ON TIME AND UNDER BUDGET; POSITIVELY POSITIONED FOR 2010; CONFERENCE CALL SCHEDULED FOR 9:00 AM MST NOVEMBER 12, 2009
Connacher Oil and Gas Ltd. extended its strong earnings performance during the third quarter of 2009, buoyed by continued operating progress, foreign exchange gains and stronger crude oil prices. Construction at the company's second 10,000-barrel-per-day, steam-assisted gravity drainage (SAGD) project at Algar advanced significantly over the summer months. Drilling of the planned 17 SAGD well pairs also progressed at a most favourable rate. A plant turnaround at pod one was completed in September, 2009, and the scheduled turnaround at the company's Great Falls, Mont., heavy oil refinery is nearing completion. Remedial work at certain of the company's conventional properties was also accomplished in a timely and cost-efficient manner.
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