From CBC Shell obtained the shares last year when it sold its oil sands properties Royal Dutch Shell is selling its entire stake in Canadian Natural Resources for $3.3 billion US. The Dutch oil giant says it will use proceeds of the sale of almost 98 million shares — about eight per cent of the company — to pay down debt.
From Reuters/Globe and Mail Canadian Natural Resources Ltd (CNRL) , one of Canada’s biggest oil and gas producers, will produce less than expected this spring, it said on Thursday, as transport bottlenecks pressure prices of Canadian heavy crude. Tight capacity on pipelines and rail lines from the province of Alberta early this year led to the biggest discount in four
Canadian Natural Resources Limited (ticker: CNQ) has entered into an agreement to acquire heavy oil assets in the Greater Pelican Lake region and other miscellaneous assets in northern Alberta from Cenovus Energy Inc. (ticker: CVE), for gross cash consideration of $975 million. The assets generate production of approximately 19,600 BOEPD, Canadian Natural Resources said in a press release. Cenovus plans
CNQ finalizes acquisition of 70% of Athabasca Oil Sands Project Canadian Natural Resources Limited (ticker: CNQ) announced today that it has completed the acquisition of 70% of the Athabasca Oil Sands Project. The remaining 30% of the working interest is broken down between Chevron Canada Limited—which retains 20% and Shell Canada Limited—which retains 10%, according to a press release on
Shell exits upstream oil sands operations, but keeps its refineries Royal Dutch Shell (ticker: RDSA) announced Thursday the signing of two agreements that will see all of the company’s in-situ and undeveloped oil sands interest in Canada old and reduce its share in the Athabasca Oil Sands Project (AOSP) from 60% to 10%, according to a press release put out
Canadian Natural Resources Limited (ticker: CNQ) said it has reached an agreement to sell all of its interests in the Cold Lake Pipeline to Inter Pipeline Ltd. The transaction consists of the monetization of the Company’s entire 15% ownership interest of Cold Lake Pipeline Ltd. and its 14.7% ownership interest in the Cold Lake Limited Partnership. When the deal closes
Canadian Natural Resources decides to move forward with the Kirby North project The entire oil and gas industry has faced a difficult time with low oil prices since late 2014, but perhaps none more than oil sands producers, which were forced to put off high-cost projects as oil prices rapidly declined. Companies like Canadian Natural Resources (ticker: CNQ), which produced
PrairieSky to purchase Canadian Natural assets for C$1.8 billion Canadian oil major Canadian Natural Resources (ticker: CNQ) announced today that PrairieSky Royalty (ticker: PSK) will purchase assets from CNR to for the largest fee simple mineral title and royalty positions in Western Canada. PrairieSky will acquire a portion of Canadian Natural’s royalty assets for total consideration of C$1.8 billion (USD$1.36
Canadian Natural Resources Limited Announces 2015 Second Quarter Results Commenting on second quarter results, Steve Laut, President of Canadian Natural stated, “Canadian Natural is in a strong position. Our strong, diverse and well balanced asset base, and the effectiveness of our strategies, combined with our ability to execute these strategies, allows us to react quickly in this challenging commodity price
Canadian Natural Resources Limited Prices C$500 Million in 5 Year Notes Canadian Natural Resources Limited (CNQ) (CNQ) (“Canadian Natural” or the “Company”) announces that on June 3, 2015 it priced C$500 million principal amount of notes through the reopening of its 2.89% medium-term notes, series 2, due August 14, 2020 sold at a price of C$101.932 per $100 principal amount
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