Connacher gives prospective buyers another 2 weeks
Connacher Oil and Gas is giving interested parties another 2 weeks to bid on its oil sands leases and thermal in-situ operations.
Connacher is operating under creditor protection and is in the process of selling assets to raise cash. Prospective buyers now have until July 14 to submit a non-binding bid.
The company's Great Divide SAGD facility has the capacity to produce 14,500 bbl/day. Connacher also owns 35,200 hectares of oil sands leases southwest of Fort McMurray, AB.