Suncor Energy disclosed that it would record a non-cash after-tax impairment charge of C$425 million on its share of the White Rose asset and West White Rose project in Q420. Cenovus Energy (CVE) is the operator of the asset and the project. CVE shares lost 2.1% in Monday's after-hours trading before closing 2.3% higher on the day. Cenovus Energy and Suncor Energy (SU) hold 72.5% and 27.5% in the White Rose asset, respectively. Cenovus, Suncor, and Nalco own 69%, 26%, and 5%, respectively in the West White Rose project.
https://www.tipranks.com/news/suncor-to-book-c425m-impairment-charge-on-white-rose-assets-street-sees-25-upside
Cenovus Energy (NYSE:CVE)
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