- Cenovus Energy (NYSE:CVE) confirms it is in talks about the potential sale of its royalty interest and mineral fee title lands but provides no details of the other party’s identity or the estimated value of the deal.
- The announcement follows a report yesterday that CVE was holding exclusive talks with the Ontario Teachers Pension Plan about a deal that could be worth C$2.5B-C$3B.
- CVE says there is no assurance of a deal and has no plan to comment further on the discussions.
- Given the likely size of the proceeds, CVE would need to sell both third-party and company-owned lands in one large transaction, a CIBC analyst says.