Canadian Natural Resources Limited (TSX:CNQ) entered into an agreement to acquire 20% Non-Operated Interest in Athabasca Oil Sands Project from Hess Corporation (NYSE:HES) on October 7, 2024. In a related transaction, Canadian Natural Resources entered into an agreement to acquire 70% operated interest in the Duvernay shale from Chevron Canada Limited. The consideration will be $6.5 billion all-cash for both transaction. The transaction is subject to regulatory approvals and other customary closing conditions. The transaction is expected to close during the fourth quarter of 2024. Nancy Diep and Len Glass of Lawson Lundell acted as legal advisors to Chevron. Pat Maguire, Ashley White, Greg Johnson, Zee Derwa, Stephen Burns and Laura Inglis of Bennett Jones acted as legal advisors to Canadian Natural Resources.

Canadian Natural Resources Limited (TSX:CNQ) completed the acquisition of 20% Non-Operated Interest in Athabasca Oil Sands Project from Hess Corporation (NYSE:HES) on December 6, 2024.