Cenovus reaches agreement to sell Pipestone business for $625 millionSale Agreement • August 9th, 2018 • Cenovus Energy Inc. • Crude petroleum & natural gas
Calgary, Alberta (August 9, 2018) – Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and one of its subsidiaries have entered into an agreement to sell the general partnership that holds the Pipestone and Wembley natural gas and liquids business in northwestern Alberta (the “Pipestone Business”) for cash proceeds of $625 million. The transaction also includes the Pipestone Business’s 39% operated working interest in the Wembley gas plant. The sale is expected to close in the third quarter of 2018, subject to customary closing conditions.
