Top Oil Sands Pick: Canadian Natural Resources
Turtle Street Capital
Turtle Street Capital
Oct. 30, 2015, 4:22 PM
- Reuters reports Canadian Natural (NYSE:CNQ) is exploring options for its royalty assets, and has held talks with the Canada Pension Plan Investment Board, the Ontario Teachers' Pension Plan, and PrairieSky Royalty.
- Cenovous Energy struck a C$3.3B deal to unload its royalty lands to Ontario Teachers' earlier this year. Meanwhile, Bloomberg reported last month ConocoPhillips was near a ~$1B deal to sell Western Canadian assets to Canadian Natural and other buyers. Canadian had $16B in debt at the end of June.
Sep. 22, 2015, 3:38 PM
- ConocoPhillips (COP -0.1%) is near a deal to sell several western Canadian assets to various buyers including Canadian Natural Resources (CNQ -1.9%), Bloomberg reports.
- The group of assets could be valued at $1B or more, according to the report, and an agreement could be reached as soon as this week.
- Production from the properties, located in Alberta, British Columbia and Saskatchewan, is said to represent ~20% of COP’s Canadian volumes outside of oil sands.
Feb. 19, 2014, 6:58 AM
- Devon Energy (DVN) has agreed to sell some of its liquids-rich natural-gas assets in Canada and six natural-gas plants for $3.13B to Canadian Natural Resources (CNQ).
- Before royalties, the properties produced the equivalent of 383M cubic feet of natural gas per day, 10,800 bpd of light crude oil and 12,000 bpd of natural gas liquids.
- The transaction doesn't include Devon's Horn River interests in northern British Columbia and heavy oil assets in Alberta.
- The deal comes after Devon said in November that it planned to sell all of its Canadian gas assets following years of low prices. (PR)
Canadian Natural Resources Ltd. is a senior independent crude oil and natural gas exploration, development and production company. The company's exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom portion of the North Sea; and CÃ´te... More
Sector: Basic Materials
Industry: Independent Oil & Gas
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