Cenovus Palliser Block Disposition
October 1, 2017
Cenovus Palliser Block Disposition
On October 18, 2017, Torxen Energy and Schlumberger Production Management entered into a definitive agreement to purchase the Palliser Block assets in Alberta from Cenovus Energy Inc. for cash consideration of $1.3 billion. The assets include Lower Manville Oil and Liquid reservoirs and significant shallow gas production.
800,000 net acres
$1.3 billion
$24,000/Flowing BOE
Cenovus Palliser Block Historical Oil Production
Composition
Our strategy to optimize our portfolio by selling non-core assets and using the proceeds to pay down debt is firmly on track.