March 24 - Suncor Energy Inc (SU.TO), Canada's largest oil and gas company, said on Wednesday it sold a collection of Alberta natural gas properties for C$235 million ($230 million) as it winnows out surplus assets following its C$22.7 billion acquisition of Petro-Canada last year.
Suncor said in a release it has agreed to sell the Rosevear and Pine Creek properties to an unnamed buyer. The lands, 200 km (120 miles) northeast of Edmonton, produce 20.5 million cubic feet of gas a day.
The sale, backdated to January 1 but set to close in the middle of the second quarter, is the latest deal for the company as it sells off some Petro-Canada assets to fund growing oil sands production.
It has also sold properties in British Columbia, Colorado and Trinidad and Tobago, while the sale of some North Sea assets is still pending. The program has raised C$1.54 billion to date, Suncor said.
Suncor shares were down 20 Canadian cents at C$21.20 at midmorning on the Toronto Stock Exchange.
($1=$1.02 Canadian)
Suncor said in a release it has agreed to sell the Rosevear and Pine Creek properties to an unnamed buyer. The lands, 200 km (120 miles) northeast of Edmonton, produce 20.5 million cubic feet of gas a day.
The sale, backdated to January 1 but set to close in the middle of the second quarter, is the latest deal for the company as it sells off some Petro-Canada assets to fund growing oil sands production.
It has also sold properties in British Columbia, Colorado and Trinidad and Tobago, while the sale of some North Sea assets is still pending. The program has raised C$1.54 billion to date, Suncor said.
Suncor shares were down 20 Canadian cents at C$21.20 at midmorning on the Toronto Stock Exchange.
($1=$1.02 Canadian)
