Royalty spinoff option "attractive," Canadian Natural CEO says

|About: Canadian Natural Resources,... (CNQ)|By:, SA News Editor

Encana’s success with spinning out its oil and gas royalty assets is being studied by Canadian Natural Resources (CNQ) as it considers options to monetize its royalty properties before year's end, CNQ President Steve Laut says at the company's investor day.

Laut doesn’t say if CNQ would keep a controlling stake in the company if it decides to spin the assets into a new entity as Encana (ECA) did, “although Prairie Sky does look pretty good."

Indeed it does: PrairieSky Royalty has climbed ~40% on the Toronto Stock Exchange from the $28 price it carried when Encana floated 52M shares three weeks ago.