Suncor Energy Inc , Canada's largest oil sands producer, said on Wednesday it has agreed to sell some oil and gas properties in Alberta to Tamarack Valley Energy Ltd for C$168.5 million ($154.8 million) as it continues to winnow its inventory of conventional oil and gas properties. Tamarack Valley, a Calgary-based junior oil and gas producer, will acquire Suncor's Wilson Creek assets in central Alberta, producing 1,702 barrels of oil equivalent per day per day.Suncor has been narrowing its focus on Alberta's oil sands and selling off conventional properties as it expands its operations near Fort McMurray, Alberta. It last year sold its natural-pas operations to Centrica Plc and Qatar Petroleum International for C$1 billion.The sale is expected to close by year end.Suncor shares closed up 44 Canadian cents to C$44.11 on the Toronto Stock Exchange on Wednesday while Tamarack Valley fell 12 Canadian cents to C$7.43 on the TSX Venture Exchange.
Suncor Energy Inc. (Suncor) is an integrated energy company. Shares of SU traded higher by 1.43% or $0.57/share to $40.52. In the past year, the shares have traded as low as $31.30 and as high as $43.49. On average, 3057820 shares of SU exchange hands on a given day and today's volume is recorded at 2244058.
Suncor Energy Inc. (Suncor) is an integrated energy company. Shares of SU traded higher by 1.01% or $0.44/share to $44.11. In the past year, the shares have traded as low as $34.70 and as high as $47.18. On average, 2321290 shares of SU.TO exchange hands on a given day and today's volume is recorded at 2459202.
Tamarack Valley Energy Ltd. (Tamarack) is a junior oil and natural gas company engaged in the exploration for, and the acquisition, development and production of, petroleum and natural gas reserves within Western Canada. Shares of TVE fell by 1.59% or $-0.12/share to $7.43. In the past year, the shares have traded as low as $2.63 and as high as $7.61. On average, 427429 shares of TVE.V exchange hands on a given day and today's volume is recorded at 570746.
Source
