Canadian Natural Resources Ltd. is considering spinning off and selling its royalty lands following the success of Encana Corp.’s PrairieSky Royalty Ltd. initial public offering last month.
PrairieSky Royalty Ltd., the Encana Corp. unit that allows investors to share in oil and natural gas production payments, surged 32 percent in its trading debut, a gain that may spur others to separate operations.
Delays by the U.S. in reviewing Keystone XL are helping build momentum for an oil pipeline to Canada’s East Coast.
Canadian Natural Resources Ltd. aims to invest $7 billion to increase capacity next year and will raise 2012 oil output 17 percent to benefit from high oil prices, President Steve Laut said.
Canadian Natural Resources Ltd., the nation’s second-largest natural gas producer, agreed to buy Devon Energy Corp.’s conventional assets in Canada for C$3.13 billion ($2.86 billion) to boost output.
Expanding pipelines and railroads are helping Canada’s biggest energy companies get higher prices for oil, leaving bulls in command in the options market.
Canadian Natural Resources Ltd. said it expects production to resume at its Horizon oil-sands project in the third quarter.
Encana Corp.’s sale of shares in a royalty unit as early as next month is poised to be the largest initial public offering in the Canadian oil and natural gas industry since 2010.
Encana Corp., Canada’s largest natural gas producer, will sell shares of a royalty unit in Alberta as early as next month as it seeks to profit from investor demand for returns based on production.
Canadian Natural Resources Ltd. said it’s taking steps to improve the safety of its Primrose oil- sands project in Alberta after a series of spills.
"The PraireSky option obviously looks attractive."
- Steve Laut on Jun 17, 2014