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Cenovus Energy to sell Pelican Lake assets for C$975 mln
September 5, 2017 / 10:16 AM / 3 months ago

Cenovus Energy to sell Pelican Lake assets for C$975 mln

Sept 5 (Reuters) - Canada’s Cenovus Energy Inc said on Tuesday it would sell its Pelican Lake heavy oil operations in Alberta for C$975 million ($786.92 million).

Cenovus said the proceeds from the sale would be used to fund the acquisition of ConocoPhillips’ assets, which it purchased for $13.3 billion in March. ($1 = C$1.2390) (Reporting by Ahmed Farhatha in Bengaluru; Editing by Shounak Dasgupta)

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