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The Suncor Energy Inc. offices stand in Fort McMurray, Alberta, Canada, on Wednesday, June 19, 2014. (Ben Nelms/Bloomberg)
The Suncor Energy Inc. offices stand in Fort McMurray, Alberta, Canada, on Wednesday, June 19, 2014. (Ben Nelms/Bloomberg)

Suncor to sell light-oil properties to Tamarack Valley unit Add to ...

Suncor Energy Inc. agreed Wednesday to sell light-oil properties near Rimbey, Alta., to a unit of Tamarack Valley Energy Ltd. for $168.5-million.

Calgary-based Suncor said the Cardium-focused assets produced an estimated 1,702 barrels of oil equivalent year-to-date. Suncor said the properties no longer fit the company’s main oil sands business.

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The deal is expected to close in the fourth quarter subject to regulatory approval.

Suncor has been selling so-called non-core assets as it focuses on wringing bitumen from Alberta’s oil sands, where the company is building the $13.5-billion Fort Hills mega-mine. Last year it sold its conventional natural gas business to Qatar Petroleum International and Britain’s Centrica PLC in a $1-billion deal.

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