Market Chatter: Cenovus Energy Mulls Sale of Alberta Oil, Gas Assets for $2.17 Billion

MT Newswires Live01-21

Cenovus Energy (CVE) is considering the sale of its conventional oil and gas assets in Alberta's Deep Basin, Reuters reported Tuesday, citing two sources familiar with the matter.

The assets could fetch about 3 billion Canadian dollars ($2.17 billion), the sources said, adding that the plans are still in its early stage.

The potential sale aims to reduce the company's debt following its recent acquisition of oil sands rival MEG Energy, the report said.

Cenovus did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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