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ConocoPhillips divests oil sands interests to Cenovus for US$13.3 bn

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Report summary

ConocoPhillips has announced the sale of its 50% non operated interest in the Foster Creek Christina Lake (FCCL) oil sands partnership and the majority of its western Canada Deep Basin gas assets to Cenovus the operator of FCCL. The total consideration is US$13.3 billion split US$10.6 billion of cash proceeds and 208 million Cenovus shares valued at US$2.7 billion on 28 March.

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    ConocoPhillips divests oil sands interests to Cenovus for US$13.3 bn

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