Impact: Positive. The $3.3 billion sale price of these assets was at the high end of our expectations. This transaction gives Cenovus the balance sheet flexibility with several options for its use of proceeds, including accelerating its capital program and pursuing potential acquisitions, as we estimate 2015e D/CF pro forma this transaction will be less than 0.5x.

30 Jun 2015
ROYALTY LANDS AND GORRS SOLD FOR $3.3 BILLION TO ONTARIO TEACHERS' PENSION PLAN

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ROYALTY LANDS AND GORRS SOLD FOR $3.3 BILLION TO ONTARIO TEACHERS' PENSION PLAN
Cenovus Energy Inc. (CVE:TSE) | 0 0 (-5.3%) | Mkt Cap: 11,501m
- Published:
30 Jun 2015 -
Author:
Michael P. Dunn -
Pages:
2 -
Impact: Positive. The $3.3 billion sale price of these assets was at the high end of our expectations. This transaction gives Cenovus the balance sheet flexibility with several options for its use of proceeds, including accelerating its capital program and pursuing potential acquisitions, as we estimate 2015e D/CF pro forma this transaction will be less than 0.5x.