Canadian Natural Resources Limited has picked up Devon Energy Canada’s operations. The $3.8 billion dollar deal was announced in a press release Wednesday. The deal means CNRL will take over plants capable of producing over 120,000 barrels of oil per day.
CNRL will also take over around 600,000 hectares of land, 400,000 of which have yet to see any development.
Devon Energy originally announced that its Canadian assets would be on the market back in February. The deal is expected to be closed by June 27th.