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Cenovus Energy (CVE) agrees to sell its Shaunavon tight oil asset in Saskatchewan to Surge...

Cenovus Energy (CVE) agrees to sell its Shaunavon tight oil asset in Saskatchewan to Surge Energy (ZPTAF.PK) for $240M. Shaunavon consists of 54 sections of land and produces ~3,600 bbl/day of oil. CVE says its Bakken Shale asset remains on the market.
Comments (2)
  • Surge Energy has turned into a dividend play as a result of the deal (http://bit.ly/15UOZ4C) This is a positive development for Longview (http://seekingalpha.co...). Longview produces 650 bpd from the Shaunavon in SE Saskatchewan out of a total of 2000 bpd produced in the area (the remaining 1350 bod is lighter oil). Surge has introduced a new potential buyer for Longview and further confirmed its undervaluation.

     

    Regards,
    Nawar
    11 Jun 2013, 05:12 PM Reply Like
  • Value Digger, what are your thoughts?
    12 Jun 2013, 08:16 AM Reply Like
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