GREY:ZARFF - Post by User
Post by
stockfyon Nov 14, 2017 4:27am
184 Views
Post# 26956959
CVE sells EOR for CAD$81K/boepd, implications for ZAR's EOR
CVE sells EOR for CAD$81K/boepd, implications for ZAR's EORCVE just sold its EOR asset for almost CAD$81,700/boepd to WCP, so you can make your math regarding the value of ZAR's Little Bow EOR asset that might be sold in the next months (along with the North Dakota asset):
CALGARY, Alberta, Nov. 13, 2017 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) has entered into an agreement to sell its majority interest
in the Weyburn carbon-dioxide enhanced oil recovery operation in Saskatchewan for cash proceeds of $940 million. The sale is expected to close in the fourth quarter of 2017, subject to customary closing conditions:
| Transaction summary |
| Gross proceeds ($ million) 1 | 940 |
| Current production (BOE/d) 2 | ~11,500 |
| Liquids (%) | 100 |
| Year-to-date operating margin ($ millions) 1,3 | 106 |
| Price per flowing barrel ($ per BOE/d) 1 | 81,700 |
1 All dollar amounts are in Canadian currency unless otherwise specified.
2 Current production above reflects Cenovus’s production net of third party burdens other than Crown royalties.