Deal insight

Cenovus sells its Palliser assets to Torxen Energy and Schlumberger for US$1.0 billion

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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 ...

What's included

This report contains

  • Document

    Cenovus sells its Palliser assets to Torxen Energy and Schlumberger for US$1.0 billion

    PDF 364.86 KB

Table of contents

  • Executive summary
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 9 images and tables including:

Images

  • Palliser wells drilled by year, oil IP30 rates
  • Deal metrics for 2015-2017 Canadian transactions over US$100 million

Tables

  • Executive summary: Table 1
  • 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

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