Devon Energy has hired advisers to help sell off the company's oilsands assets as the company plans to leave Canada by the end of the year. The Oklahoma City-based company has three oilsands facilities and some heavy oil operations in the Lloydminster area. Its Canadian operations produced about 131,000 barrels of oil equivalent per day, which represents about 24 per cent of the company's total production. "One of the criticism the company was getting from its shareholders was its exposure to Canadian oilsands and in particular, the wide differential that made the business problematic from a cashflow perspective," said Ross. Devon's heavy oil assets in Alberta could sell for upwards of $9 billion, according to one analyst.

Source: CBC News February 20, 2019 16:26 UTC