Cenovus May Sell Some Saskatchewan Properties, CEO Brian Ferguson Says

Cenovus Energy Inc. may sell light- crude-producing fields in southwestern Saskatchewan to boost investment in its oil-sands properties, Chief Executive Officer Brian Ferguson said in an interview.

The company will consider “whether we think that there’s greater value for our shareholders in going to full development or potentially divesting at some future point,” Ferguson said. Output from the company’s Shaunavon field in Saskatchewan will probably reach 2,000 barrels a day by the end of the year, he said.

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