Cenovus Weighs $2 Billion Asset Sale to Rein In Debt After Major Merger ...Middle East

Canada’s Cenovus is considering a divestment from conventional oil and gas assets that could be worth over $2 billion, Reuters has reported, citing unnamed sources. The assets are in Alberta, and the proceeds from the potential sales would be used to reduce the company’s debt load that swelled after its takeover of sector player MEG Energy, the Reuters sources said. They noted, however, that while Cenovus has reached out to potential buyers, there is no guarantee a deal will be reached. Cenovus may ultimately decide to keep the conventional…

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