Further to selling Weyburn Canada's Whitecap Resources Inc and at least three other companies have submitted final-round bids for Cenovus Energy Inc's Weyburn oil facility in a deal that could fetch about C$1-billion ($782-million), people familiar with the situation said on Tuesday.
NAL Resources Management Ltd, a unit of insurer Manulife Financial Corp, Cona Resources Ltd and Spartan Energy Corp are among other suitors to place final bids, the people added, declining to be named as the matter is not yet public.
Whitecap is the front runner for the asset, one of the people said.
To finance the acquisition, Whitecap is looking to raise about C$700-million through a share sale and fund the rest through debt, the people said.