Monday, November 24th0.4°C
24124

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

22970


Recent Trending




Today's Market
S&P TSX15067.33-44.13
S&P CDNX789.790.66
DJIA17807.85-2.21
Nasdaq4737.796+24.827
S&P 5002067.27+3.77
CDN Dollar0.8872-0.0025
Gold1196.40-1.2999
Oil76.62+0.11
Lumber333.40+2.40
Natural Gas4.108-0.158

 
Okanagan Companies
Pacific Safety0.175+0.02
Knighthawk0.01-0.005
QHR Technologies Inc1.32+0.02
Cantex0.04+0.005
Anavex Life Sciences0.19+0.012
Metalex Ventures0.03+0.005
Russel Metals31.41-0.21
Copper Mountain Mining2.20-0.04
Colorado Resources0.135+0.01
ReliaBrand Inc0.0135+0.0005
Sunrise Resources Ltd0.025-0.025
Mission Ready Services0.33-0.02

 
24130


23015

FEATURED Property
19645031805 Scott Crescent
4 bedrooms 5 baths
$875,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...

_



24158

24158


Member of BC Press Council


24043