Waterous Energy Fund and Strathcona Resources to acquire Tucker thermal oil sands project of Cenovus Energy for $625m.

Waterous Energy Fund, a private equity firm, and Strathcona Resources, an oil and gas producer, agreed to acquire Tucker thermal oil sands project of Cenovus Energy, an oil and natural gas production company, for $625m. “This is yet another example of Cenovus seizing opportunities to generate incremental value for shareholders. With Tucker and the other divestitures announced this year, we have delivered on our asset sales commitment for 2021, positioning the company well to focus on higher-return opportunities in the portfolio and continue increasing returns to shareholders,” Alex Pourbaix, Cenovus President and CEO.