Thursday, June 24, 2010

Suncor (NYSE:SU) Selling Non-Core Bearberry, Ricinus Assets

Suncor Energy (NYSE:SU) said it has reached an agreement with Abu Dhabi National Energy Company PJSC subsidiary, TAQA North, to sell non-core natural gas properties.

The more well-known properties are Ricinus and Bearberry, located in Alberta, Canada.

Although natural gas properties, the current production on the lands is approximately 6,100 barrels of oil equivalent a day.

Suncor, through a variety of non-core transactions, has sold off about $2.4 billion in total assets. They are getting close to completing their overall strategy, as the remaining non-core assets left to sell are located in the North Sea and Western Canada.

Closing date for the deal, which is valued at about $285 million, will be sometime near the end of the third quarter, subject to approval.

1 comment:

Anonymous said...

Now I would' ve used ChickHen to flash custom firmware to his psp but he updated to 5.55. So I was wondering if the Half Byte Loader program would be able to run the 5.50 D3 installer at all, since I noticed the program is beta and apparently as many problems left, long enough to flash firmware without bricking his psp.