Wednesday, January 22, 2025
Moving Oil by Rail - Oil & Gas 360

Alberta Hires CIBC to Divest Crude-by-Rail Program by Fall 

From Bloomberg News / BNN Alberta’s new government plans to sell the leases and services the Canadian province has accrued to help companies ship oil out of the region. CIBC Capital Markets has been hired to help with the transaction.  Jason Kenney, elected premier last month, campaigned on a platform that included getting rid of predecessor Rachel Notley’s crude-by-rail program, arguing that

Devon joins shale firms to cut spending as oil hovers at $30- oil and gas 360

Devon Closes Canada Deal 

By Bevo Beaven, Editor, Oil & Gas 360 Devon Energy Corp. (stock ticker: DVN) has completed the sale of its Canadian business segment to Canadian Natural Resources (stock ticker: CNQ) for CAD $3.8 billion, or US $2.8 billion.   Devon secured net proceeds from the deal of US $2.5 billion. The company said it plans to repatriate the net sales proceeds