Teachers' pension risks $2.65 billion on Cenovus 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., a spinoff of Encana Corp., said June 30 it will sell subsidiary Heritage Royalty LP's 4.8 million gross acres of royalty interest and mineral fee title lands in Alberta, Saskatchewan and Manitoba.