Thread regarding Cenovus Energy layoffs

Legacy Cenovus Husky Lease

It's ironic that Husky had a legacy lease (originally granted by PanCanadian ) for over half a million acres of land that were Royalty Free. The original lease was granted to Husky after a deal to develop the Husky Tower and the real estate associated with it. It was located around Lloyd in Alberta and Sask. There were two original leases, one for the shallow rights and one for the deep. Now Cenovus owns all of these lands 100% Royalty Free. I wonder what they are going to do with these legacy lands. A lot of it has been drilled up and was the basis for Husky's heavy oil production. I imagine there are billions of barrels of reserves booked to this lease. All Royalty free.

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