Cenovus Energy (CVE) Considers Selling Conventional Assets in Alberta

Cenovus Energy Inc. (NYSE:CVE) is an integrated vigor institution with lipid and earthy state accumulation operations successful Canada and the Asia Pacific region, and upgrading, refining, and selling operations successful Canada and the United States.

A Reuters study connected January 21 revealed that Cenovus Energy Inc. (NYSE:CVE) is considering divesting its accepted lipid and state assets successful the Deep Basin of Alberta, arsenic the institution looks to trim indebtedness pursuing its C$8.5 cardinal acquisition of MEG Energy successful November 2025. Cenovus has precocious contacted imaginable buyers to gauge involvement successful the assets, which are expected to merchantability for astir C$3 cardinal ($2.17 billion). However, the plans are not last yet, and the institution whitethorn yet determine to clasp the said assets.

The strategical determination comes arsenic Cenovus Energy Inc. (NYSE:CVE) sharpens its absorption connected its halfway lipid sands business, particularly aft its takeover of MEG, which added the highly coveted Christina Lake task to its portfolio. Last month, the institution besides revealed plans to put C$3.6 cardinal successful its lipid sands concern this year, up from astir C$2.8 cardinal allocated successful the 2025 budget. Moreover, the divestment volition let Cenovus to fortify its equilibrium expanse aft its nett indebtedness soared to astir C$10.7 cardinal pursuing the MEG acquisition. The institution is aiming to bring its nett indebtedness down to C$4 cardinal implicit time.

Cenovus Energy Inc. (NYSE:CVE) was precocious included successful our database of the 10 Best Natural Gas Stocks to Buy Right Now.

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