Cenovus to sell Sask. assets to Whitecap

CALGARY — Cenovus Energy Inc. says it is selling its majority stake in a Saskatchewan enhanced-oil recovery project to Calgarybased Whitecap Resources Inc. for $940 million.

The deal is the last on a list of four asset sales the oilsands producer vowed to complete to help pay for its $17.7-billion acquisition of most of the Canadian assets of Houston-based ConocoPhillips this year.

It has previously agreed to sell its Palliser assets in southeastern Alberta to Torxen Energy and Schlumberger for $1.3 billion, its Suffield operations in southern Alberta to International Petroleum Corporation for $512 million and its Pelican Lake heavy oil assets in northern Alberta for $975 million to Canadian Natural Resources.