TORONTO (Reuters) - Cenovus Energy Inc (CVE.TO) has 75 per cent of financing in place for its $17.7 billion acquisition of ConocoPhillips' (COP.N) oil and gas assets, Cenovus Chief Executive Brian Ferguson said on Tuesday.

The strategic rationale for the deal is well understood by investors, Ferguson said.

Ferguson said on Tuesday that the "strategic rationale" for the deal is well understood by investors, although he noted that some have questioned the company's plan for financing it through selling shares, divestitures and taking on debt.

The company has 75 per cent of permanent financing in place and has seen strong interest in the assets it is selling, Ferguson said

"Since we’ve announced (the ConocoPhillips deal), I’ve had inbound calls from seven CEOs wanting to make sure that I know that they have an interest in either some of the assets we’ve acquired or some of the existing Cenovus assets as well," he told reporters on Tuesday.

Ferguson added that he's unconcerned with reports that emerged Tuesday that Saudi Arabia could soon call on the Organization of the Petroleum Exporting Countries (OPEC) to extend supply cuts by an additional six months.

"I really don’t care what OPEC does or doesn’t do," he said. "I can’t build my business around that. What I’ve got to ensure is that I can compete with the marginal barrel supply wherever it comes from in the world, and I honestly believe that we can do that."

- With files from BNN