trending Market Intelligence /marketintelligence/en/news-insights/trending/LSu7r3dV4DqucXLNAA87ag2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Canadian Natural closes acquisition of 70% stake in Athabasca oil sands

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August


Canadian Natural closes acquisition of 70% stake in Athabasca oil sands

Canadian Natural Resources Ltd. completed its acquisition of a 70% stake in the Athabasca Oil Sands Project, as well as other assets, from Shell Canada Ltd. and Marathon Oil Corp.

The deals include a 70% interest in the Scotford upgrader and the Quest carbon capture and storage project, along with additional working interests in certain producing and non-producing oil sands leases. Ownership interest in the Athabasca Oil Sands Project is now 70% held by Canadian Natural, 20% by Chevron Canada Ltd. and 10% by Shell Canada and certain subsidiaries, according to a May 31 news release.

In exchange for the assets, Canadian Natural issued 97,560,975 of its common shares worth about C$4 billion to Shell, a combined pre-adjustment cash payment of C$8.24 billion to Shell and Marathon and a deferred payment of US$375 million to Marathon, to be paid by the first quarter of 2018.

Canadian Natural will operate the Athabasca Oil Sands Project mines beginning June 1. Based on the approved 2017 joint venture budget for the project, the targeted June mine production from Canadian Natural's working interest is at 173,000 barrels per day to 191,000 bbl/d, and June budgeted production from the Peace River properties included in the deal is projected at 12,000 bbl/d to 14,000 bbl/d.