One of the world’s largest independent oil exploration and production companies is bidding adieu to most of its assets in Canada.
Cenovus Energy Inc. announced on March 29 that it had agreed to buy the bulk of Houston-based ConocoPhillips’ oil sands holdings up north in a $13.3 billion deal. The landmark transaction, expected to close in the second quarter of this year, has yielded roles for a pair of Am Law 100 firms and three leading Canadian shops.
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