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Cenovus Energy $13.3 billion acquisition of ConocoPhillips natural gas assets

29/3/2017
Public acquisition
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$ 13.3 billion

Announced

29/3/2017

Overview:

  • Canadian oil and gas company Cenovus Energy has made a $13.3 billion acquisition of natural gas assets from ConocoPhillips.
  • The assets consist of Conoco's 50% stake in the Foster Creek Christina Lake oil sands and a majority stake in the Canada Deep Basin gas assets.
  • Cenovus is financing the deal through a combination of available cash, a debt offering and credit facilities.
  • JPMorgan Chase and RBC Capital Markets acted as financial advisers for Cenovus.

Kurt Stumpo - Journalist

Jurisdictions:

Canada
United States

Deal type:

Public acquisition

Practice area:

M&A

Industry sector:

Oil and gas

Firms:
Bennett Jones

Party: Cenovus Energy (Acquirer)

Lawyers: Pat Maguire KC, Thomas McInerney

Blake Cassels & Graydon

Party: Cenovus Energy (Acquirer)

Lawyers: Dan McLeod, Jeff Bakker, Ross Bentley

King & Spalding

Party: ConocoPhillips (Seller)

Lawyers: Keith Townsend, Robert Leclerc

Osler Hoskin & Harcourt

Party: ConocoPhillips (Seller)

Lawyer: Janice Buckingham

Paul Weiss Rifkind Wharton & Garrison

Party: Cenovus (Acquirer)

Lawyer: Andrew Foley

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