Cenovus intends to use the net proceeds from the notes offering to finance a portion of the cash consideration payable in connection with its acquisition of ConocoPhillips’ 50% interest in the FCCL Partnership, the companies’ jointly owned oil sands venture operated by Cenovus, and a majority of ConocoPhillips’ Deep Basin conventional assets in Alberta and British Columbia.
Cenovus is a Canadian integrated oil company with oil sands projects in northern Alberta, natural gas and oil production in Alberta and Saskatchewan and 50 percent ownership in two U.S. refineries.
The Shearman & Sterling team included partners Jason Lehner (Toronto/New York-Capital Markets) and Larry Crouch (Menlo Park-Tax); counsel Kevin Roggow (Toronto-Capital Markets) and Jeffrey Salinger (New York-Environmental); associates Heather Pals (Toronto-Capital Markets), Ryan Robski (Toronto-Capital Markets) and Emalie Sundale (Menlo Park-Tax); and international associate Fabio Pazzini (New York).