Cenovus Announces $3.0 Billion Bought-Deal Offering of Common Shares
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Cenovus Energy (CVE) Announces Agreement to Acquire Assets From ConocoPhillips (COP) for C$17.7B
March 29, 2017 4:23 PM EDTCenovus Energy Inc. (NYSE: CVE) has agreed to acquire ConocoPhillips' 50% interest in the FCCL Partnership, the companies' jointly owned oil sands venture operated by Cenovus. Cenovus is also purchasing the majority of ConocoPhillips' Deep Basin conventional assets in Alberta and British Columbia. Combined, these assets have forecast 2017 production of approximately 298,000 barrels of oil equivalent per day (BOE/d). The acquisition is immediately accretive to key metrics, and, assuming the successful completion of a planned divestiture program, is expected to result in an 18% increase in 2018 adjusted funds flow per share compared with Cenovus's original 2018 forecast. Total... More
