Cenovus Energy to acquire a 50% stake in the Sunrise oil sands project from bp for $469m.

Cenovus Energy, an integrated oil company, agreed to acquire a 50% stake in the Sunrise oil sands project from bp, an oil and petrochemicals company, for $469m. “Acquiring the remaining working interest in Sunrise enables us to fully benefit from the significant optimization opportunities available. By applying Cenovus’s advanced operating techniques, we expect to increase production at Sunrise while driving down sustaining capital, operating costs and emissions intensity," Alex Pourbaix, Cenovus President & CEO.