Deal Insight
Devon sells its Canadian assets to Canadian Natural Resources for US$2.8 billion
Report summary
Canadian M&A has erupted! On 29 May, Devon announced that it sold its Canadian assets to Canadian Natural Resources Limited (CNRL) for total consideration of Cdn$3.775 billion (US$2.8 billion). As part of the deal, CNRL acquires the Jackfish and non-producing Pike oil sands projects, Devon's Lloydminster heavy oil position, and working interest in both the Liard and Horn River plays in Northern BC. The deal was completed in cash, with CNRL financing the purchase entirely with ...
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Oil sands
- Other assets
- Deal analysis
- Upsides and risks
-
Strategic rationale
- Devon
- CNRL
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- Executive summary: Table 1
- 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
- Oil sands production and the percentage controlled by local companies
What's included
This report contains:
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