Petronas is said to be exploring a potential sale of its Canadian business, according to an article published by Bloomberg this morning.
According to the article, the sources suggested that the company would also consider selling a minority stake in the business, depending on valuation.
Petronas acquired Canada’s Progress Energy in 2012, and currently also holds a 25% interest in LNG Canada, which is expected to deliver its first cargo of LNG in June/July of this year.
Aggregated production data from StackDX Intel suggests that gross licensed production for Petronas Energy Canada has ranged between 200-220 mboe/d over the last 7 months (Figure 1).
Figure 1 – Petronas Energy Canada – gross licensed production*
*gross licensed production is an aggregation of all wells licensed to a company on a gross basis assuming 100% working interest