(CercleFinance.com) – TotalEnergies announces that ConocoPhillips has notified it of the exercise of its right of first refusal for the acquisition of the 50% stake in the Surmont asset held by TotalEnergies EP Canada Ltd.
The French company will receive a cash payment at closing of 4.03 billion Canadian dollars (approximately three billion US dollars), as well as additional payments of up to a maximum of 440 million under certain conditions.
The finalization of this transaction, subject to obtaining public authorizations, is expected in the third quarter of 2023. TotalEnergies is now open to finalizing a transaction with Suncor relating to the sale of TEPCA shares.