Suncor to sell Newfoundland offshore stakes to Ithaca Energy in C$1.2 billion deal, reshaping east coast oil landscape
Calgary based Suncor Energy agreed to sell its interests in the Terra Nova, White Rose and West White Rose offshore projects to London based Ithaca Energy for C$1.2 billion in upfront cash plus contingent payments, a deal that accelerates Ithaca's first international expansion and frees Suncor to boost shareholder returns and focus on core assets in Alberta.