Suncor agrees to sell offshore asset stakes for CAD 1.2 billion
SU•Suncor Energy agreed to sell its interests in Terra Nova, White Rose and West White Rose for CAD 1.2 billion, with a contingent payment of up to CAD 350 million tied to future oil prices. The buyer will assume the assets’ investment commitments and liabilities, and closing is expected in early 2027.
1. Sale terms
Suncor Energy agreed to sell stakes of 48% in Terra Nova, 40% in White Rose and 38.6% in West White Rose for CAD 1.2 billion (USD 860 million). The deal includes a contingent payment of up to CAD 350 million (USD 250 million), dependent on future oil prices.
2. Commitments and timing
The buyer will assume all investment commitments and liabilities, including a CAD 500 million compliance program and CAD 1.4 billion in abandonment and lease liabilities. Closing is expected in early 2027, with an effective date of July 1, 2026.
