Deals
Cenovus Hires TD for Sale of Royaly Lands in Canada
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Cenovus Energy Inc. has hired bankers to explore the possible sale or initial public offering of some of its oil and natural gas lands in Western Canada.
The so-called royalty lands, which generate revenue from drilling by other companies, are located across Alberta, Saskatchewan and Manitoba. The deal could raise as much as C$1.6 billion ($1.3 billion), according to one analyst’s estimate.