Cenovus Energy to buy Athabasca Oil for $5.7 billion
Cenovus Energy has agreed to acquire Athabasca Oil in a deal valued at $5.7 billion, including debt. Under the terms of the agreement, Cenovus will pay $12.00 per share for Athabasca. The acquisition is expected to close in December and is seen as a strategic fit for Cenovus's core oil sands business, adding approximately 45,000 barrels of oil equivalent per day.
00 per share. Cenovus said Athabasca was a "clear strategic fit" with its core oil sands business and adds around 45000 barrels of oil equivalent per day. This includes thermal production proximal to Cen…