Canadian Natural Pays $2.8B For Devon's Canada Assets

Law360, New York (February 19, 2014, 1:25 PM EST) -- Canadian oil and gas producer Canadian Natural Resources Ltd. has acquired the majority of Devon Energy Corp.'s Canadian conventional oil and gas assets for CA$3.125 billion (US$2.8 billion), the companies announced Wednesday.

The deal includes nearly 5 million net acres of undeveloped, royalty and fee-simple lands in Western Canada, as well as six natural gas plants and four oil batteries. The current estimated production, before royalties, is 383 million cubic feet of gas per day, 10,800 barrels of light crude oil per day and 12,000 barrels...
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