- Devon Energy (DVN) is throwing in the towel on its Canadian business and will put most of its Canadian natural gas production up for sale, Financial Post reports.
- When the assets are sold at a price estimated to fetch at least $3B, DVN hopes to emerge as a heavy oil company with interests in Alberta oil sands and cold-flow heavy oil, two growing areas.
- "When we look out a few years, we don't see any major catalyst to move the price of natural gas substantially," Devon Canada president Christopher Seasons says.
Devon to put Canadian gas assets up for sale as low prices bite
Dec 6 2013, 09:08 ET