Cenovus Energy Inc.’s buyout of Husky Energy Inc. officially closed on New Year’s Day creating Canada’s third largest energy producer.
The combined company is to continue to operate as Cenovus, with its headquarters in Calgary.
The transaction was completed through a definitive arrangement agreement announced on October 25, 2020 where Cenovus and Husky agreed to combine in an all-stock transaction.
Map shows the location and count of combined assets of Cenovus & Husky
The combination creates Canada’s third-largest crude oil and natural gas producer, based on total company production, with about 750,000 barrels of oil equivalent per day of low-cost oil and natural gas production.
Cenovus is also now the second-largest Canadian-based refiner and upgrader, with total North American upgrading and refining capacity of approximately 660,000 barrels per day (bbls/day).
In addition, the company has access to about 265,000 bbls/day of current takeaway capacity from Alberta on existing major pipelines, 305,000 bbls/day of committed capacity on planned pipelines and 16 million barrels of crude oil storage capacity as well as strategic crude-by-rail assets that provide takeaway optionality.
Cenovus and Husky Facility Report
Sponsor
Material Resource Management Inc (MRM) is a materials management company specializing in buying and selling new and used surplus material. We specialize in the purchase and sale of all types of OCTG tubular products. We also buy and sell all types of access and rig matting, storage tents, camps, compressors, generators, separators, tanks, pump jacks, de-hys, bullets, treaters, free water knock outs, flare knock outs, flare stacks, copper and aluminum teck cable, copper wire, electircal components,we also have complete plants and batteries.
Additional News
Sign-up for Free Permit Reports
* These fields are required.