Source: The Canadian Press, November 13, 2017
Calgary-based Whitecap Resources on the buying end for $940M
Cenovus Energy Inc. says it is selling its majority stake in a Saskatchewan enhanced-oil recovery project to Calgary-based Whitecap Resources Inc. for $940 million.
The deal is the last on a list of four asset sales the major oilsands producer vowed to complete to help pay for its $17.7-billion acquisition of most of the Canadian assets of Houston-based ConocoPhillips earlier this year.
Image Source: Brent Lewin/Bloomberg