asia-pacific operations not considered CORE assets.. A sale in the OFFING??? (double edged - as this is far and away their best netbacks, see below . dwdc
Cenovus Energy (CVE.TO) chief executive Alex Pourbaix on Tuesday said the company has suspended a sale process for more than 500 service stations, travel centers, cardlock operations and bulk distribution facilities acquired when it bought Husky Energy earlier this year, the Canadian Press reported.
The news agency said Pourbaix halted the sale process launched by Husky in 2019 because the market for such assets is currently weak. The executive was speaking at an energy-industry conference.
Husky was "trying to sell at, really, what was the very bottom of the market. I just wanted to take the time to go back and reassess, did a sale really make sense and if it makes sense, is there a better time to sell? And we're probably moving into a lot better market," he said.
Pourbaix also said Cenovus does not consider the Asia-Pacific oil and gas operations acquired in its C$3.8 billion acquisition of Husky to be a core asset for the combined company.