February 18, 2011 / 5:11 PM / 7 years ago

UPDATE 1-Cenovus Energy says mulling joint venture

CALGARY, Alberta, Feb 18 (Reuters) - Cenovus Energy Inc (CVE.TO), Canada’s No. 2 independent oil exploration and production company, said on Friday it has been approached by “several parties” interested in forming a joint venture to exploit the company’s oil reserves.

Brian Ferguson, the company’s chief executive, said on a conference call that Cenovus is not yet in any formal talks but planned to shortly begin a competitive process with an eye to closing a transaction by yearend.

Ferguson said the company has not restricted the size of any potential deal.

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