Deal Insight
Canadian Natural Resources acquires Devon's Canadian conventional assets for US$2.8 billion
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Report summary
This is the largest upstream acquisition made in 2014 thus far, and stands as the largest Canadian deal since 2012. The transaction, which excludes Horn River and heavy oil properties, includes 86,633 boe/d of production weighted 74% towards natural gas. This increases Canadian Natural's overall natural gas weighting from the current 28% to 32% pro forma, and pushes Canadian Natural past Encana to become the leading western Canadian gas producer. The acquired assets will add over 3.8 ...
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
-
Alberta
- Wapiti
- Elmworth
- Pinto
- Ferrier
- Dunvegan/Normandville
-
British Columbia
- Narraway
- Northeast British Columbia
- Saskatchewan
-
Alberta
- Deal analysis
- Upsides and risks
-
Strategic rationale
- Canadian Natural Resources
- Devon
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- Executive summary: Table 1
- Map comparing Canadian Natural and Devon drilling efforts in the Montney fairway
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
What's included
This report contains:
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