Cenovus Energy (CVE) is considering the sale of its conventional oil and gas assets in Alberta's Deep Basin, Reuters reported Tuesday, citing two sources familiar with the matter.

The assets could fetch about 3 billion Canadian dollars ($2.17 billion), the sources said, adding that the plans are still in its early stage.

The potential sale aims to reduce the company's debt following its recent acquisition of oil sands rival MEG Energy, the report said.

Cenovus did not immediately respond to MT Newswires' request for comment.

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