Canada's Cenovus Energy Inc has reached an agreement to sell its Suffield oil and gas assets for $512 million to International Petroleum Corp, striking its second deal this month as it pushes ahead with its debt reduction plan. Suffield 's ConocoPhilips has reached an agreement to sell its Suffield oil and gas assets for $1.5 billion to ConocoPhilips , its second deal earlier this year as it pushes ahead with its debt reduction plan following the $ 16.8bn acquisition of oil sands assets from ConocoPhilips earlier this year . Cenovus is targeting $ 5bn from asset sales to pay down the debt $ 3.6bn of debt it took on to finance the Conoco deal. So far it has announced $1.5 billion in divestitures, including the latest sale. Analysts said the price tag for Suffield was within estimates, and that while the sale was positive for the company, other assets for sale may not be as attractive to buyers.
Suffield 's ConocoPhilips has reached an agreement to sell its Suffield oil and gas assets for $1.5 billion to ConocoPhilips , its second deal earlier this year as it pushes ahead with its debt reduction plan following the $ 16.8bn acquisition of oil sands assets from ConocoPhilips earlier this year . Cenovus is targeting $ 5bn from asset sales to pay down the debt $ 3.6bn of debt it took on to finance the Conoco deal. So far it has announced $1.5 billion in divestitures, including the latest sale. Analysts said the price tag for Suffield was within estimates, and that while the sale was positive for the company, other assets for sale may not be as attractive to buyers.