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Cenovus and BP swap oil sands and offshore Canada assets

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16 June 2022

Cenovus and BP swap oil sands and offshore Canada assets

Report summary

Oil sands consolidation continues with Cenovus announcing the purchase of BP's 50% working interest in the Sunrise project. The acquisition gives Cenovus complete control over the asset and will allow it to fully implement its operating model to improve the performance of the project on a production, cost and emissions intensity basis. For BP, a long-expected exit from the oil sands is now nearly complete.

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
    • Upsides:
    • Risks:
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 8 images and tables including:

  • Executive summary: Table 1
  • Sunrise emissions performance since first production
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    Cenovus and BP swap oil sands and offshore Canada assets

    PDF 748.42 KB