CNR Acquires Core North Sea Properties

Balmoral, Glamis & Stirling Fields
(Click to Enlarge)
Canadian Natural Resources has acquired several light oil producing properties in the Central North Sea. The properties comprise operated interests in T-Block (Tiffany, Toni and Thelma fields) and B-Block (Balmoral, Stirling and Glamis fields), together with associated production facilities and adjacent exploration acreage. CNRI equity interests in the producing fields being acquired will be:

T-Block      Tiffany, Toni, Thelma      88.74%
B-Block      Balmoral                   70.20%
             Glamis                     75.29%
             Stirling                   68.68%

The acquisition will not result in a material change to the Company's previously announced forecasted year-end debt levels or financial ratios. Upon final closing of the transaction Canadian Natural will update its production guidance for the year.

Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours