Separately, Houston-based Marathon Oil would sell its 20 per cent stake in Athabasca to Shell and Canadian Natural, who would pay $1.25 billion (U.S.) each. Earlier this year, Norway’s Statoil closed its deal to sell all of its Canadian oilsands assets for $832 million. Canadian Natural CEO Steve Laut made clear on a conference call that he thought he was getting a good price. Shell is also selling its Peace River thermal oilsands assets, including its shelved Carmon Creek project, and undeveloped oilsands leases to Canadian Natural. Canadian Natural says as part of the agreements, it will take on 3,100 employees from Shell and Marathon Oil.

Source: thestar March 09, 2017 18:41 UTC