Suncor Energy closes sale of the majority of its conventional natural gas
(All financial figures are approximate and in Canadian dollars unless
CALGARY, ALBERTA -- (Marketwired) -- 09/26/13 -- Suncor Energy today
announced it has closed the previously announced sale of the majority
of its conventional natural gas business in Western Canada to CQ
Energy Canada Partnership, a newly established partnership between
Centrica plc (LSE: CNA) and Qatar Petroleum International.
The sale is consistent with Suncor's strategy to focus on a core
portfolio of high return, oil producing assets and includes
properties situated across multiple regions in Alberta, northeast
British Columbia and southern Saskatchewan. Excluded are the majority
of Suncor's unconventional Montney natural gas properties in the Fort
St. John region of British Columbia and the company's Wilson Creek,
Alberta unconventional oil assets.
The $1 billion sale price is subject to closing adjustments typical
of transactions of this nature and is based on an effective date of
January 1, 2013. All necessary regulatory approvals were received
including approval under the Investment Canada Act.
Suncor Energy is Canada's leading integrated energy company. Suncor's
operations include oil sands development and upgrading, conventional
and offshore oil and gas production, petroleum refining, and product
marketing under the Petro-Canada brand. While working to responsibly
develop petroleum resources, Suncor is also developing a growing
renewable energy portfolio. Suncor's common shares (symbol: SU) are
listed on the Toronto and New York stock exchanges.
For more information about Suncor Energy please visit our web site at
suncor.com, follow us on Twitter @SuncorEnergy or read our blog,
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