Strathcona Resources to buy Tucker oilsands project from Cenovus in $800M deal
Cenovus Energy Inc. says Strathcona Resources Ltd. will be the purchaser of its Tucker thermal oilsands project in northeast Alberta.
Calgary-based Cenovus said Thursday it had reached an $800-million deal to sell the asset, but did not immediately disclose the buyer.
Strathcona Resources is a privately held oil and gas company wholly owned by Calgary-based investment firm Waterous Energy Fund and Strathcona employees.
Strathcona is an amalgamation of two Waterous Energy Fund portfolio companies, Strath Resources and Cona Resources. The two companies combined in August 2020.
At the time, Strathcona said the amalgamated company would be the largest wholly private equity-owned, oil-weighted producer in North America, with production of 60,000 barrels of oil equivalent daily.
Cona Resources acquired Pengrowth Energy Corp. in January 2020 for $740 million.
This report by The Canadian Press was first published Dec. 17, 2021.
CTVNews.ca Top Stories
B.C. seeks ban on public drug use, dialing back decriminalization
The B.C. NDP has asked the federal government to recriminalize public drug use, marking a major shift in the province's approach to addressing the deadly overdose crisis.
Orca calf that was trapped in B.C. lagoon for weeks swims free
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
Trump's lawyers try to discredit testimony of prosecution's first witness in hush money trial
Donald Trump's defence team attacked the credibility Friday of the prosecution's first witness in his hush money case, seeking to discredit testimony detailing a scheme between Trump and a tabloid to bury negative stories to protect the Republican's 2016 presidential campaign.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
'I was scared': Ontario man's car repossessed after missing two repair loan payments
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.
Last letters of pioneering climber who died on Everest reveal dark side of mountaineering
George Mallory is renowned for being one of the first British mountaineers to attempt to scale the dizzying heights of Mount Everest during the 1920s. Nearly a century later, newly digitized letters shed light on Mallory’s hopes and fears about ascending Everest.
Air traveller complaints to Canadian Transportation Agency hit new high
The Canadian Transportation Agency has hit a record high of more than 71,000 complaints in a backlog. The quasi-judicial regulator and tribunal tasked with settling disputes between customers and the airlines says the backlog is growing because the number of incoming complaints keeps increasing.
U.S. flight attendant indicted in attempt to record teen girl in airplane bathroom
An American Airlines flight attendant was indicted Thursday after authorities said he tried to secretly record video of a 14-year-old girl using an airplane bathroom last September.