Deal Insight
Cenovus sells its Palliser assets to Torxen Energy and Schlumberger for US$1.0 billion
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
-
Deal analysis
- Valuation metrics and comparisons to other Canadian deals
- Upsides and risks
-
Strategic rationale
- Cenovus
- Torxen
- Schlumberger
- Oil & gas pricing and assumptions
Tables and charts
This report includes 9 images and tables including:
- Executive summary: Table 1
- Palliser wells drilled by year, oil IP30 rates
- Upstream assets: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Upsides and risks: Table 1
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Deal metrics for 2015-2017 Canadian transactions over US$100 million
What's included
This report contains:
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