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

Cenovus reportedly considering sale of Alberta conventional assets

Canada’s Cenovus Energy is reportedly considering a sale of conventional oil and gas assets in Alberta’s Deep Basin.

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

Canada’s Cenovus is considering a divestment from conventional oil and gas assets that could be worth over $2 billion, Reuters has reported, citing unnamed sources. The assets are in Alberta, and the proceeds from the potential sales would be used to reduce the company’s debt load that swelled after its takeover of sector player MEG Energy, the Reuters sources said. They noted, however, that while Cenovus has reached out to potential buyers, the…

Cenovus considers selling ~C$3B in Alberta oil and gas assets

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

(BOE Report) – Canadian oil producer Cenovus Energy is considering a sale of conventional oil and gas assets in the Deep Basin of Alberta as it looks to cut debt after the recent takeover of oil sands rival MEG Energy, two sources familiar with the matter told Reuters. Cenovus has reached out to potential buyers in recent weeks to gauge interest in the assets, which could fetch around C$3 billion ($2.17 billion), the sources said. They cautioned