US EditionConocoPhillips to buy rest of Canada's Surmont oil site, bumping Suncor
- ConocoPhillips is buying TotalEnergies' 50% stake in the Surmont oil facility for $3 billion, giving it full ownership and outbidding Suncor Energy.
- ConocoPhillips's decision to exercise its right of first refusal is a setback to Suncor's plans to boost its long-term bitumen supplies.
- ConocoPhillips expects the transaction to add $600 million of annual free cash flow in 2024 and plans to fund the deal through cash, financing, or a combination.
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ConocoPhillips to exercise pre-emptive right; will buy rest of Surmont project
CALGARY — U.S. oil company ConocoPhillips said Friday it will exercise its right of first refusal and purchase TotalEnergies' 50 per cent stake in the Surmont oilsands project for $4 billion.
·Barrie, Canada
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ConocoPhillips to exercise pre-emptive right; will buy rest of Surmont project
CALGARY — U.S. oil company ConocoPhillips said Friday it will exercise its right of first refusal and purchase TotalEnergies' 50 per cent stake in the Surmont oilsands project for $4 billion.
·Burnaby, Canada
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ConocoPhillips to exercise pre-emptive right; will buy rest of Surmont project
CALGARY — U.S. oil company ConocoPhillips said Friday it will exercise its right of first refusal and purchase TotalEnergies' 50 per cent stake in the Surmont oilsands project for $4 billion.
·Sault Ste. Marie, Canada
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Total News Sources40
Leaning Left21Leaning Right2Center4Last UpdatedBias Distribution78% Left
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