TotalEnergies Closes Sale of Fort Hills Oil Sands to Suncor
The consideration for the transaction is around $1.1 billion (CAD 1.47 billion) and has an effective date of April 1.
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The consideration for the transaction is around $1.1 billion (CAD 1.47 billion) and has an effective date of April 1.
The acquisition adds 61,000 barrels per day of net bitumen production capacity and 675 million barrels of proved and probable reserves.
The acquisition adds 61,000 bpd of net bitumen production capacity and 675 MMbbl of proved and probable reserves to Suncor's existing oil sands portfolio.
TotalEnergies is exiting the Canadian oil sands with the closing of its 50% interest in the Surmont oil sands sale to ConocoPhillips and the divestment of its remaining upstream Canadian assets to Suncor Energy.
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