Suncor Energy agrees to sell non-core Bearberry and Ricinus assets in Alberta

Suncor Energy has reached an agreement with TAQA NORTH, a subsidiary of the Abu Dhabi National Energy Company PJSC (TAQA), to sell certain natural gas properties for approximately $285 million with an effective date of April 1, 2010.

The press release is quoted as saying:

Current production on these lands is approximately 6,100 barrels of oil equivalent per day. The sale includes properties known as Bearberry and Ricinus, which are located in west central Alberta, near Sundre. The sale is expected to close in the latter part of the third quarter and is subject to closing conditions and regulatory approvals typical of transactions of this nature.

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