The sale includes properties known as Bearberry and Ricinus, which are located in west central Alberta, near Sundre. The sale is expected to close in the latter part of the third quarter and is subject to closing conditions and regulatory approvals typical of transactions of this nature. The current production on these lands is approximately 6,100 barrels of oil equivalent per day.
As part of its strategic business alignment, Suncor is continuing with plans to divest of a number of non-core assets. The assets on sales agenda till date include all oil and gas producing assets in the US Rockies, some non-core natural gas properties in Western Canada, all assets in the Netherlands and all Trinidad and Tobago assets.
Remaining proposed divestments include certain natural gas assets in Western Canada and non-core North Sea assets. Suncor has reached agreements to dispose assets for aggregate consideration of approximately $2.4bn till date.
