CALGARY - Canadian Natural Resources Ltd. has signed a deal to buy the Canadian operations of Devon Energy Corp. for $3.8 billion. The assets include thermal in situ oilsands production and conventional primary heavy crude oil operations located adjacent to existing Canadian Natural assets. The production acquired under the deal totals 128,300 barrels per day, including 108,200 from the thermal in situ operations and 20,100 from conventional operations. “This acquisition is a great fit for Canadian Natural resulting in a win for both parties and provides further balance to our diverse portfolio,” Steve Laut, Canadian Natural’s executive vice-chairman, said in a statement. Canadian Natural is expected to add about 735 new employees from Devon, including both field and head office personnel.

Source: thestar May 29, 2019 10:30 UTC