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Cenovus sells Suffield and Alderson assets to International Petroleum Corporation for US$415 million

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Report summary

On 25 September 2017 Cenovus announced the sale of its Suffield and Alderson assets to International Petroleum Corp. (IPC) for cash proceeds of Cdn$512 million (US$415 million). The Suffield and Alderson assets are located in southern Alberta and include 800 000 net acres of shallow natural gas rights and 100 000 net acres of oil rights. The assets are currently producing approximately 7 000 b/d of oil and 102 mmcfd of natural gas for a total of 24 000 boe/d (71% gas). The deal also ...

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    Cenovus sells Suffield and Alderson assets to International Petroleum Corporation for US$415 million

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Table of contents

  • Executive summary
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale

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Tables

  • Upstream assets: Table 1

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