Norway’s Equinor ASA said on Jan. 20 it has sold its stake in Athabasca Oil, a Canadian oil sands firm.
Majority state-owned Equinor sold 100 million shares, representing an 18.8% stake in Athabasca for a total of 18 million Canadian dollars (US$14.2 million).
Equinor, formerly called Statoil, received the shares in 2017 as part of a deal to sell its Kai Kos Dehseh oil sands project in the Canadian province of Alberta.
“This was just a financial holding that was part of the deal when we exited... We have no other interests onshore Canada now,” an Equinor spokesman said.
Athabasca produced 20,200 bbl/d of oil sands crude in the third-quarter of 2020, accounting for about two-thirds of its total output, according to regulatory filings.
In 2017, Equinor pledged not to invest in oil sands, a heavy oil resource, production of which requires more energy than production of conventional sources and thus resulting in higher greenhouse gas emissions. (US$1 = CA$1.2707)
Recommended Reading
Key Energy Buys Endeavors’ Well Servicing Business
2024-05-20 - Key Energy Services’ deal comes as Endeavor Energy Resources is selling its upstream assets to Diamondback Energy.
Seadrill Sells Three Jackups for $338MM to Gulf Drilling International
2024-05-17 - Seadrill Ltd. is also selling its 50% equity interest in the joint venture that operates the rigs offshore Qatar.
Could Crescent, SilverBow Buy More in South Texas After $2.1B Deal?
2024-05-17 - The combination of Crescent Energy and SilverBow Resources will yield one of the Eagle Ford’s top producers—and the pro forma E&P could look to gobble up more acreage in South Texas after closing.
Permian Powerhouse: Apache Doubles Down on Core Assets After Callon Acquisition
2024-05-16 - Apache CEO John Christmann detailed plans for the Permian Basin and Suriname during the SUPER DUG Conference & Expo.
OEP Completes Acquisition of TechnipFMC’s Measurement Solutions Business
2024-03-27 - One Equity Partners said TechnipFMC’s measurement solutions business will be rebranded as Guidant and specialize in measurement technology, automation solutions and global systems.