Friday, September 4th10.0°C
27420

Canadian Natural to pay $3.125 billion for oil and gas lands in Western Canada

CALGARY - Canadian Natural Resources Ltd (TSX:CNQ) will pay $3.125 billion cash to buy conventional oil and gas assets near its core areas in Western Canada in a major land deal with Devon Canada.

Canadian Natural 's announcement comes just weeks after it called off plans to sell a major portion of its holdings due to low prices.

The Devon Canada lands in the deal are adjacent or close to Canadian Natural's current operations in Western Canada.

In addition to the producing assets, Canadian Natural will acquire more than two million acres of undeveloped land and nearly three million acres of royalty lands from Devon.

Canadian Natural expects the deal to close April 1.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX13478.31-118.10
S&P CDNX552.61-1.14
DJIA16102.38-272.38
Nasdaq4683.92-49.58
S&P 5001921.22-29.91
CDN Dollar0.7532-0.0047
Gold1120.70-3.00
Oil45.67-1.08
Lumber234.00+1.10
Natural Gas2.658-0.067

 
Okanagan Companies
Pacific Safety0.215-0.005
Knighthawk0.010.00
QHR Technologies Inc1.24+0.00
Cantex0.04-0.01
Anavex Life Sciences1.36+0.25
Metalex Ventures0.05-0.00
Russel Metals21.23+0.14
Copper Mountain Mining0.59-0.01
Colorado Resources0.075-0.010
ReliaBrand Inc0.0045+0.0005
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.07-0.01
Decisive Dividend Corp2.62+0.12

 



27126

FEATURED Property
2382779607 Clifton Road
3 bedrooms 4 baths
$698,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


The ball and chain

I have been pleasantly surprised of late to speak with business owners who understand the impact of fixed versus variable costs. A fixed cost is one that must be paid each and every month regardless o...


Where does the money go?

Photo: Thinkstock.comOne of the major components of business relationships that involve money are the fees in the investment industry. There is currently a quiet battle being waged between the practit...


Agree to ask questions

Photo: Thinkstock.comThe STORY: I think, said Janet to herself, that I just figured out a solution to my problem of letting the prospect run the meeting.With that thought in mind, she got out of her c...

_








Member of BC Press Council


25646