Cenovus Energy Inc T.CVE

Just sold 660 million in assets

[meritmat]

Husky retail fuel and Wembley assets

[Cabarete1]

I understand selling the retail - because it's a lot of work, but not clear on why sell Wembly. Should put Cernovus at 9 B net by end of Q1 2022.

[Bennys65]

Anyone know who bought the wembly assets?

[mrbb]

gas stations sold to parkland and federated co-op Cenovus to sell Husky gas stations to Parkland, Co-op (msn.com)  

[mrbb]

In 2018, NuVista bought some wembley production and gas plant from cenovus for 625 million.  The sale is to include its Pipestone and Wembley natural gas and liquids production, as well as its 39 per cent interest in the Wembley gas processing plant. Cenovus in deal to sell northern Alberta oil, gas assets for $625M | Financial Post  

[montrus]

Anyone with their ear to the ground know who purchased the Montney land asset up in the Wembley area?  Odd that it has not been announced as it is is material.

[PabloLafortune]

If its CNQ then no, that would not be material.

[borne2run]

And one of the bank analysts suggested that the sales price was quite low. That is the signature of a CNQ acquisition - buy at firesale prices. Last December Painted Pony was a bargain purchase by Canadian Natural Resources.

[Margin321]

Is not reprotable if it is private equity, maybe soem hedge fund or LLC set up for this purchase

[Quintessential1]

That would be nice to know.  I am guessing whoever did wants the thunder for themselves. I am guessing another Monteny player.  Probably Tou, they are gobbling everything. I hope it is ARX.