Deal Insight
Cenovus sells its Palliser assets to Torxen Energy and Schlumberger for US$1.0 billion
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
On 19 October 2017, Cenovus announced the sale of its Palliser assets to Torxen Energy and Schlumberger for cash proceeds of Cdn$1.3 billion (US$1.0 billion). The southeast Alberta land position includes 800,000 net acres that produce approximately 12,000 bbl/d of liquids and 249 mmcfd of gas for a combined production of 54,000 boe/d (77% gas). The consideration paid is on the high end given the gas weighting of current production, but the Palliser block also features sizeable upside ...
Table of contents
- Executive summary
- Upstream assets
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Deal analysis
- Valuation metrics and comparisons to other Canadian deals
- Upsides and risks
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Strategic rationale
- Cenovus
- Torxen
- Schlumberger
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Palliser wells drilled by year, oil IP30 ratesUpstream assets: Table 1
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Deal analysis: Table 1Deal analysis: Table 2Upsides and risks: Table 1Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2Deal metrics for 2015-2017 Canadian transactions over US$100 million
What's included
This report contains:
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