Cenovus Energy eyes options for its for its freehold properties

Thu Oct 23, 2014 11:33am EDT
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CALGARY, Alberta Oct 23 (Reuters) - Cenovus Energy Inc , Canada's No.2 independent oil producer, said on Thursday it believes it is not realizing the full potential of its freehold lands and third-party royalty production and is now assessing options to boost their value.

Brian Ferguson, the company's chief executive, said on a conference call the company will announce its plan for the properties in the next three months.

The move follows EnCana Corp's spinoff of its freehold lands into PrairieSky Royalty Ltd earlier in the year. (Reporting by Scott Haggett; Editing by Chizu Nomiyama)