Suncor Energy Inc. (SU,SU.TO) said that it has reached an agreement with Progress Energy Resources Corp. (PRQ.TO) to sell certain natural gas properties for about C$390 million. Current production on these lands is about 43.8 million cubic feet equivalent per day. The sale includes properties known as Jedney, Beg and Blueberry, which are located in British Columbia about 125 kilometres northwest of Fort St. John. The sale is expected to close at the end of the first quarter and is subject to closing conditions and regulatory approvals typical of transactions of this nature.
As part of its strategic business alignment, Suncor plans to divest of a number of non-core assets. The proposed divestments include certain natural gas assets in Western Canada and the United States Rockies, all Trinidad and Tobago assets and certain non-core North Sea assets, including all assets in The Netherlands.
To date, including the U.S. Rockies assets and the assets announced today, Suncor has reached agreements to dispose of assets for aggregate consideration of about C$907 million.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.