Cenovus Energy to Sell Tucker Thermal Assets for $626 Million

Cenovus Energy, which did not disclose the buyer, said it expects almost CA$2 billion in total proceeds from asset sales announced in 2021, including the latest transaction.

Reuters

Cenovus Energy Inc. on Dec. 16 agreed to sell its Tucker thermal assets in northeastern Alberta for CA$800 million (US$626.13 million), as the Canadian oil and gas producer looks to shed assets to repay debt.

Cenovus, which acquired Husky Energy earlier this year, has set an interim net debt target of $10 billion.

The company, which did not disclose the buyer, said it expects almost CA$2 billion in total proceeds from asset sales announced in 2021, including the latest transaction.

Already have an account? Log In

Sign up for FREE access to view this article now!

Unlock Free Access