SLB and Torxen Energy had purchased the Palliser crude oil and natural gas assets from Cenovus Energy Inc. for about $1.04 billion cash. (Source: Shutterstock)
SLB has entered into a definitive agreement to sell its interests in the Palliser Block located in Alberta, Canada, the company said Oct. 17.
The Palliser Block consists of oil and gas wells, surface facilities, a pipeline network and certain oil and gas development rights. SLB did not disclose the sale price.
In 2017, SLB (then Schlumberger) and Torxen Energy agreed to purchase the Palliser crude oil and natural gas assets from Cenovus Energy Inc. for CA$1.3 billion (US$1.04 billion) in cash.
SLB said its sale of the assets, subject to regulatory approval and other customary closing conditions, is expected to close late in fourth-quarter 2024.
Recommended Reading
Phillips 66’s NGL Focus, Midstream Acquisitions Pay Off in 2024
2025-02-04 - Phillips 66 reported record volumes for 2024 as it advances a wellhead-to-market strategy within its midstream business.
Equinor Commences First Tranche of $5B Share Buyback
2025-02-07 - Equinor began the first tranche of a share repurchase of up to $5 billion.
Q&A: Petrie Partners Co-Founder Offers the Private Equity Perspective
2025-02-19 - Applying veteran wisdom to the oil and gas finance landscape, trends for 2025 begin to emerge.
Rising Phoenix Capital Launches $20MM Mineral Fund
2025-02-05 - Rising Phoenix Capital said the La Plata Peak Income Fund focuses on acquiring producing royalty interests that provide consistent cash flow without drilling risk.
Chevron Makes Leadership, Organizational Changes in Bid to Simplify
2025-02-24 - Chevron Corp. is consolidating its oil, products and gas organization into two segments: upstream and downstream, midstream and chemicals.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.