On Friday, Shares of ConocoPhillips (NYSE:COP), lost -2.03% to $47.20.
ConocoPhillips safely delivered first oil at its Surmont 2 in-situ oil sands facility in Canada, marking a significant milestone for the megaproject.
“The oil sands are an important part of our portfolio,” said Ryan Lance, chairman and chief executive officer. “We’re pleased to see a project of this magnitude move from the capital phase to the production phase, knowing that it will produce for decades to come. Achieving this milestone on schedule demonstrates our continued commitment to meet our operational targets.”
Construction of the Surmont 2 facility, the largest single-phase steam-assisted gravity drainage (SAGD) project ever undertaken, began in 2010. Earlier this year, ConocoPhillips announced first steam, the initial step towards production. Since that milestone, steam has successfully heated the reservoir to a point where the well pairs can be converted to a SAGD configuration and allows the oil to flow. Production was declared once the inspected product was successfully routed to sales tanks.
Production will ramp-up through 2017, adding approximately 118,000 barrels of oil per day (BOD) gross capacity. Total gross capacity for Surmont 1 and 2 is expected to reach 150,000 BOD.
ConocoPhillips Canada President Ken Lueers attributes the project’s accomplishment to the hard work of the men and women who built the megaproject.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids worldwide. Its portfolio comprises shale and oil sands assets; lower-risk legacy assets in North America, Europe, Asia, and Australia; various international developments; and exploration prospects.
Shares of Verizon Communications Inc. (NYSE:VZ), declined -1.97% to $44.82, during its last trading session.
Verizon Communications declared the election of Gregory G. Weaver, former chairman and chief executive officer of Deloitte & Touche LLP, to the Verizon Board of Directors, effective September 2.
“Greg is an accomplished executive who brings to Verizon 40 years of experience in public accounting and professional services. He has a deep working knowledge of the operational and governance issues that large, complex organizations must address to succeed in recently’s business environment,” said Lowell McAdam, Verizon chairman and chief executive officer. “We are very happy to have Greg join our board.”
The addition of Weaver brings Verizon’s total board membership to 12.
Weaver served from 2012 to 2014 and from 2001 to 2005 as chairman and chief executive officer of Deloitte’s audit and enterprise risk services firm, Deloitte & Touche LLP, overseeing all operations, planned positioning, audit quality and talent matters. He served on the Board of Directors of Deloitte’s U.S. organization from 2006 to 2012, and on numerous other committees within Deloitte that assisted shape organizational priorities and interactions with clients and regulators.
Weaver holds an undergraduate degree in mathematics from Albright College and an MBA from Rutgers University.
Verizon Communications Inc., through its auxiliaries, provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide.
Finally, JetBlue Airways Corporation (NASDAQ:JBLU), ended its last trade with 1.28% gain, and closed at $23.72.
JetBlue Airways Corporation declared it will start seasonal non-stop service between New York’s John F. Kennedy International Airport (JFK) and Palm Springs International Airport (PSP) in Southern California this winter, subject to government approval. Palm Springs will be JetBlue’s ninth destination in the Golden State.
The new flights will operate five times per week, Thursday through Monday, between January 14, 2016 and May 1, 2016. Seats are on sale started August 31 with introductory fares starting at $99 one way between New York and Palm Springs (a).
The desert oasis has recently practiced a comeback by blending its nostalgic past as a playground for Hollywood with hip new development attracting a new generation of trendy travelers. Palm Springs was a favorite venue for The Rat Pack, and stars such as Frank Sinatra, Bob Hope and Lucille Ball all built homes in Palm Springs. Recently, Palm Springs has become a gathering spot for architecture aficionados, musicians, artists, and trendy weekenders seeking a warm, retro-chic getaway with great hotels, restaurants, and outdoor activities.
JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2014, the company operated a fleet of 13 Airbus A321 aircrafts, 130 Airbus A320 aircrafts, and 60 EMBRAER 190 aircrafts.
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