Deal Insight
CNRL acquires Cenovus' Pelican Lake oil sands interest for US$786 million
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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 5 September 2017, Cenovus announced the sale of its Pelican Lake asset and associated infrastructure to Canadian Natural Resources Limited (CNRL) for a cash consideration of Cdn$975 million (US$786 million). The centrepiece of the deal is Cenovus' Pelican Lake asset, currently producing 19,600 boe/d. The deal also includes the sale of Cenovus' Grand Rapids project and Cenovus's 38% share of the Pelican Lake Pipeline system, making CNRL the 100% owner of the pipeline.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
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Strategic rationale
- CNRL
- Cenovus
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Upstream assets: Table 1Deal analysis: Table 1
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Deal analysis: Table 2Deal analysis: Table 3Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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