Cenovus considers selling Alberta assets valued at C$3 billion

Summary

Cenovus Energy is exploring the sale of conventional oil and gas assets in Alberta's Deep Basin, valued at approximately C$3 billion. This move aims to reduce the company's net debt, which increased to around C$10.7 billion following its acquisition of MEG Energy. The sale could help Cenovus focus on its core oil sands business and achieve its debt reduction target.

Recent Coverage

• Cenovus considers selling some Alberta assets valued around C$3 billion, sources say

  Oil and Gas 360 • Jan 21

• Cenovus Weighs $2 Billion Asset Sale to Rein In Debt After Major Merger

  OilPrice.com • Jan 21

• Cenovus considers selling some Alberta assets valued around C$3 billion, sources say

  BOE Report • Jan 21