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Cenovus Sells Suffield/Southern Alberta Assets for $512 Million

International Petroleum Corp. Cenovus Energy Inc.
AnnouncedSep 25, 2017
TypeProperty
Announced Date
September 25,2017
Close Date
January 05,2018
Transaction Type
Property
Enterprise Value (EV)($MM)
512




Snapshot
Asset/Basin:
{"Western Canada Sedimentary Basin"}
Net Acres
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% Oil:
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Proved Reserves
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Location
Region
Canada

Country
Canada

Production & Reserves
Production
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Production Mix
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Reserves
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Calculated Metrics( EV/Category)
$/ Flowing
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$/ Acre
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Transaction Details:  Subscribe to see

Cenovus has entered into an agreement to sell its Suffield crude oil and natural gas operations in southern Alberta to International Petroleum Corporation (IPC) for $512 million.

The Suffield and Alderson oil and natural gas assets are held over a large, contiguous land position of 800,000 net acres of shallow natural gas rights and 100,000 net acres of oil rights in southern Alberta. IPC has agreed to acquire 100% operatorship (98.8% working interest) in the oil and natural gas assets which are forecast to produce an average of approximately 6,900 barrels of oil per day (bopd) and approximate…


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Price History


Date Deal Headline Price$/acre
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