Opti Canada Yahoo Finance - Financial Discussion

Opti Canada Inc. was a Canadian energy company, primarily focused on the development of oil sands leases in the Athabasca region of Alberta. Their most significant project was the Long Lake project, a joint venture with Nexen (later acquired by CNOOC). Long Lake employed steam-assisted gravity drainage (SAGD) technology to extract bitumen, which was then upgraded into synthetic crude oil. Yahoo Finance, as a financial news and data platform, would have provided investors with information related to Opti Canada, including: * **Stock Quotes:** Historical and real-time stock prices for Opti Canada’s shares. This included open, close, high, low prices, volume, and price changes. These quotes allowed investors to track the company’s performance on the Toronto Stock Exchange (TSX), where it was listed. * **Financial Statements:** Access to Opti Canada’s reported financial results, such as quarterly and annual reports. These statements included the income statement (profit and loss), balance sheet (assets, liabilities, and equity), and cash flow statement. Analyzing these statements was crucial for understanding the company’s financial health, profitability, and solvency. * **News and Press Releases:** Yahoo Finance would have carried news articles and press releases related to Opti Canada, covering developments in the Long Lake project, financial performance announcements, management changes, and other significant events. These news items helped investors stay informed about the company’s activities and industry trends. * **Analyst Ratings:** Reports and recommendations from financial analysts who covered Opti Canada. These reports often included price targets and ratings (e.g., buy, sell, hold) based on the analysts’ assessment of the company’s future prospects. However, it’s important to consider that analyst opinions can vary. * **Company Profile:** A summary of Opti Canada’s business, including its operations, strategy, and key personnel. This information provided context for investors researching the company. * **Competitor Information:** Data and news related to Opti Canada’s competitors in the oil sands industry. Comparing Opti Canada’s performance with its peers was important for understanding its competitive position. **Opti Canada’s Downfall:** Despite the potential of the Long Lake project, Opti Canada faced significant challenges. The project experienced cost overruns and operational issues, leading to lower-than-expected production and financial difficulties. Ultimately, Opti Canada filed for creditor protection in 2011. This meant the company was unable to meet its debt obligations and sought court protection to restructure its finances. Its downfall dramatically affected investors who had held the stock and bonds of the company. **After Creditor Protection:** Following the creditor protection proceedings, Nexen gained full control of the Long Lake project. Opti Canada no longer exists as an independent entity. Consequently, Yahoo Finance would no longer provide active stock quotes or news coverage specific to Opti Canada. Historical data, however, may still be available in Yahoo Finance’s archives. Investors interested in the Long Lake project would now need to follow the activities of CNOOC, which acquired Nexen.