ARC Financial among bidders for Cenovus' Pelican Lake: Reuters
Cenovus Energy Inc has received separate bids from Canadian Natural Resources Ltd, Canadian private equity firm ARC Financial Corp and others for a heavy oil project in Pelican Lake, Alberta, according to people familiar with the matter who told Reuters the project was valued at as much as $1 billion. Calgary-based Cenovus is also in advanced talks to sell another oil project in Suffield, Alberta, which is likely to fetch between $500 million and $600 million. Cenovus has also received strong inbound interest from several energy companies for buying all or parts of separate midstream assets in the Deep Basin. But there was no formal sale process underway for Deep Basin, a region that straddles Alberta and British Columbia.
4 August 2017•2 mins read
