Suncor agrees to sell Terra Nova, White Rose stakes to Ithaca for Cdn$ 1.2 billion cash

By Public Technologies
  • Suncor agreed to sell stakes in the Terra Nova, White Rose, and West White Rose offshore assets to Ithaca Energy.
  • Upfront consideration set at Cdn$ 1.2 billion cash, with a contingent payment of up to Cdn$ 350 million tied to oil prices.
  • Ithaca will assume future investment commitments, including a Cdn$ 500 million well compliance program starting in 2027 at Terra Nova.
  • The buyer will also take on estimated abandonment and lease liabilities of Cdn$ 1.4 billion.
  • Effective date July 1, 2026; closing expected in early 2027.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Suncor Energy Inc. published the original content used to generate this news brief via Newsfile (Ref. ID: 202610041900NEWSFILECNPR____20261004_317317_1) on October 04, 2026, and is solely responsible for the information contained therein.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.