Suncor Sells Western Canada Assets for $1 Billion

Suncor Energy has divested the conventional portion of its natural gas operations in Western Canada. The company reached an agreement to sell the assets to a newly established partnership consisting of U.K.-based Centrica and Qatar Petroleum International.

The price is $1 billion, and what the partnership is receiving for its money is Suncor's numerous properties in the provinces of Alberta, British Columbia, and Saskatchewan. The production of these assets is expected to total roughly 250 million cubic feet equivalent per day in 2013.

Suncor said the sale is expected to close during Q3. It is subject to regulatory approval from the relevant authorities.

The article Suncor Sells Western Canada Assets for $1 Billion originally appeared on

Fool contributor Eric Volkman and The Motley Fool have no position in Suncor Energy. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.