Suncor Sells Down Three Newfoundland Oilfields for $1.2 Billion
Calgary-based Suncor Energy is selling its stakes in three Newfoundland and Labrador oilfields — Terra Nova, White Rose and West White Rose — to Ithaca Energy. The deal is worth $1.2 billion, plus up to $350 million more depending on future oil prices, and is expected to close in early 2027.
AI-generated discussion · Different perspectives
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The kicker is the part to watch: $1.2 billion is fixed, while up to $350 million rides on where oil prices go between signing and closing.
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So the two sides can hold different views of the crude market and still do the deal — the disagreement gets priced instead of argued.