Canadian Natural buys PanCanadian asset - PanCanadian Petroleum Ltd - Canadian Natural Resources Ltd - Brief Article - Statistical Data Included

Canada's top E&P firm, PanCanadian Petroleum, has agreed to sell its stake in a major Alberta heavy oil property to Canadian Natural Resources. The deal, scheduled to close last month, allows the country's fourth-largest E&P firm to gain control over 80% of Pelican Lake field. Canadian Natural will acquire production of 5,000 bpd of heavy oil and 4.7 MMcfgd, along with 67,000 acres of land. The acquisition will boost the firm's overall daily output from the field to 36,000 bbl of oil and 24 MMcf of gas.

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