Reuters logo
Canada's Cenovus to sell Weyburn asset to Whitecap for $739 mln
November 13, 2017 / 9:59 PM / in 5 days

Canada's Cenovus to sell Weyburn asset to Whitecap for $739 mln

CALGARY, Alberta, Nov 13 (Reuters) - Canada’s Cenovus Energy Inc has reached an agreement to sell its Weyburn oil facility for C$940 million ($738.53 million) to Whitecap Resources Inc, Cenovus said on Monday, completing its main divesture plans.

Cenovus has been selling assets to pay down debt used to fund its C$16.8 billion acquisition of some ConocoPhillips assets this year. The Weyburn sale would bring Cenovus’ asset sale proceeds to about C$4 billion compared with its target of C$4 billion to C$5 billion in asset sales.

$1 = 1.2728 Canadian dollars Reporting by Ethan Lou

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below