Mar
30
Cenovus Said to Seek $1.35 Billion in Asset Sales for Conoco Buy
By-
Calgary producer taps BMO, CIBC and Barclays for asset sales
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Pelican Lake could get C$1.2 billion, Suffield C$600 million
Christina Lake, a situ oil production facility half owned by Cenovus Energy Inc. and ConocoPhillips, in Conklin, Alberta, Canada, on Aug. 15, 2013.
Photographer: Brent Lewin
Cenovus Energy Inc. plans to raise about C$1.8 billion ($1.35 billion) from property sales as it seeks to offset the cost of its C$17.7 billion purchase of ConocoPhillips’ Canadian oil assets, according to people familiar with the matter.
The Calgary-based producer has hired Bank of Montreal to advise on the sale of its Suffield oil and natural gas drilling project in Alberta, which it hopes will fetch about C$600 million, said the people, who asked not to be identified because the matter is private…
Cenovus Said to Seek $1.35 Billion in Asset Sales for Conoco Buy
