assets.

Cenovus pays off $940 million debt with Weyburn enhanced oil recovery sale

Acquisition includes a 62.1% interest in Weyburn(14,600 boe/d) and 200 boe/d of production from other assets Cenovus Energy Inc. agreed to sell its majority interest in the Weyburn carbon-dioxide enhanced oil recovery operation in Saskatchewan for cash proceeds of $940 million to Whitecap Resources, according to a press release. “We’re pleased with the progress we’ve […]

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Tight inventory of deepwater assets driving prices higher

40% of global shallow-water oil/gas assets located for sale in Europe Reduced spending for oil and gas exploration is limiting availability of quality deepwater assets for merger and acquisition (M&A) deals, according to a new report by IHS Markit.  “Low oil prices have significantly reduced operator spending on exploration—particularly in the deepwater, which is very costly,”

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Is Pengrowth dumping $63 million of well/facility cleanup liability?

“Sale was to one company and we are not disclosing the buyer nor the exact proceeds.” – Pengrowth Pengrowth Energy Corporation announced Wednesday that it has entered into an agreement to sell “matured legacy assets” from 36 properties – including  270 facilities and 1,600 wellbores – for a nominal cash consideration, ridding itself of perhaps

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Cenovus sells Suffield conventional oil/gas assets for over $500 million dollars

Swedish energy company International Petroleum Corporation has agreed to acquire 100 per cent ownership Cenovus Energy Inc. has agreed to sell its Suffield, AB and Alderson, AB crude oil and natural gas operations in southern Alberta to International Petroleum Corporation for gross cash proceeds of $512 million, according to a press release. Cenovus can also benefit

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Pengrowth sells remaining Swan Hills properties for $150 Million

Properties have 31 million boe of proved plus probable reserves Pengrowth Energy Corporation announced it entered into a sale of its remaining Swan Hills assets in North Central Alberta for total cash consideration of $150 million, according to a press release. When combined with the approximate $18 million deposit from the initial sales process which

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Cenovus buys ConocoPhillips Western Canada deep basin gas assets

Cenovus issued 208 million common shares to ConocoPhillip ConocoPhillips announced a transaction with Cenovus to sell its 50 per cent non-operated interest in the Foster Creek Christina Lake oil sands partnership,  as well as the majority of its western Canada Deep Basin gas assets, according to a press release. “With the completion of this transformational

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Oil fields generate higher emissions near end of their life – study

Upstream carbon policies should balance emissions reduction with negative economic consequences Following the Paris Agreement, consultancy Wood Mackenzie assessed how carbon emissions evolve over field life, the variables at play and the potential impact on the upstream sector. The carbon emissions targets set by the Paris Agreement look to have far-reaching implications for long-term corporate strategies. As

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Harbour Energy acquisition of Shell UK North Sea assets for $3 Billion

Acquisition of portfolio creates leading UK Independent E&P company focused on North Sea Harbour Energy, Ltd., the energy investment vehicle managed by EIG Global Energy Partners, announced it agreed to lead the acquisition by Chrysaor Holdings Limited of a well-diversified portfolio of oil and natural gas assets from Shell U.K. Limited and its affiliates to

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Anadarko announces sale of Eagleford Shale assets

Anadarko divestiture includes 155,000 net acres primarily located in Dimmit and Webb counties Anadarko Petroleum Corporation announced it has agreed to sell its Eagleford Shale assets in South Texas for approximately $2.3 billion to Sanchez Energy Corporation and Blackstone Group LP, according to a press release. “The ongoing success of our portfolio-management activities provides us

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