Teachers’ Pension Risks $2.65 Billion On Cenovus Oil, Gas Interests

摘要

In a show of confidence for returns on oil and gas, the Ontario Teachers’ Pension Plan has agreed to buy millions of royalty and mineral interests for gross proceeds of US$2.65 billion (C$3.3 billion). Oil company Cenovus Energy Inc. (CVE), a spinoff of Encana Corp. (ECA), said June 30 it will sell subsidiary Heri- tage Royalty LP’s 4.8 million gross acres of royalty interest and mineral fee title lands in Alberta, Saskatchewan and Manitoba.