Canadian Natural Resources completed the acquisition of Devon's Canadian Business for $2.8bn.

Canadian Natural Resources, explorer, developer, and producer of natural gas and crude oil, completed the acquisition of Devon's Canadian Business for $2.8bn. Devon will evaluate multiple methods of separating the assets, including a potential sale or spin-off. The separation will allow the company to focus on its top-tier, high-return U.S. oil assets and is aligned with Devon’s previously announced long-term strategic plan. “With our world-class U.S. oil resource plays rapidly building momentum and achieving operating scale, the final step in our multi-year transformation is an aggressive, transformational move that will accelerate value creation for our shareholders by further simplifying our resource-rich asset portfolio,” Dave Hager, Devon President and CEO.