Canadian miner Teck Resources announced that TotalEnergies EP Canada has filed an application in the Alberta Court of King's Bench in connection with Teck’s sale of its Fort Hills interest and related assets to Suncor Energy. Total’s application challenges the validity of the right of first refusal notice delivered to it by Teck, pursuant to which Total can elect to acquire part of Teck’s interest in Fort Hills. Total is also seeking that the 90 day period within which it can exercise its right of first refusal be suspended during the dispute. Teck believes that Total’s position is entirely without merit and expects the transaction to close in the first quarter as previously announced. It remains open to Total to accept the right of first refusal notice provided by Teck, and Teck intends to vigorously defend the proceedings. The Fort Hills oil sands mine is located in northern Alberta. We hold a 21.3% interest in the Fort Hills Energy Limited Partnership (Fort Hills Partnership), which owns the Fort Hills oil sands mine, with Total E&P Canada and Suncor holding the remaining interest. An affiliate of Suncor is the operator of the project.
Canadian miner Teck Resources announced that TotalEnergies EP Canada has filed an application in the Alberta Court of King's Bench in connection with Teck’s sale of its Fort Hills interest and related assets to Suncor Energy. Total’s application challenges the validity of the right of first refusal notice delivered to it by Teck, pursuant to which Total can elect to acquire part of Teck’s interest in Fort Hills. Total is also seeking that the 90 day period within which it can exercise its right of first refusal be suspended during the dispute. Teck believes that Total’s position is entirely without merit and expects the transaction to close in the first quarter as previously announced. It remains open to Total to accept the right of first refusal notice provided by Teck, and Teck intends to vigorously defend the proceedings. The Fort Hills oil sands mine is located in northern Alberta. We hold a 21.3% interest in the Fort Hills Energy Limited Partnership (Fort Hills Partnership), which owns the Fort Hills oil sands mine, with Total E&P Canada and Suncor holding the remaining interest. An affiliate of Suncor is the operator of the project.
