Athabasca Completes Dover Stake Sale to PetroChina

Posted by Joseph R. Fonseca
Saturday, August 30, 2014
Great Assets

 

Canada's Athabasca Oil Corp said it had closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PertroChina Co Ltd for $1.18 billion.

Athabasca said it received $600 million in cash and $584 million in three interest-bearing promissory notes from the unit, Phoenix Energy Holdings Ltd.

It was not immediately clear if the figure was in Canadian or U.S. dollars.

(Reporting by Ashutosh Pandey in Bangalore; Editing by Kirti Pandey)

 

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