Canadian Natural Resources completed the acquisition of Painted Pony Energy for $461m.

Canadian Natural Resources, a company engaged in hydrocarbon exploration, completed the acquisition of Painted Pony Energy, a publicly-traded natural gas company based in Western Canada, for $461m. The price included the assumption of Painted Pony's total debt of approximately $350m. "This acquisition further strengthens Canadian Natural's natural gas assets and production base in key operating areas and complements the company's diversified portfolio. This transaction also allows us to further insulate against natural gas costs in our oils sands operations and has minimal impact on the company's low overall corporate decline rate. We look forward to working together with the staff currently employed by Painted Pony," Tim McKay, Canadian Natural President.