Canadian Natural Completes Acquisition of Anadarko Canada
Canadian Natural Resources Limited announced that the agreement ("the Arrangement") whereby Anadarko Canada Corporation ("ACC") will become a wholly owned subsidiary of Canadian Natural has been completed effective November 2, 2006 with no adjustments to the previously announced aggregate consideration of US$4.075 billion.
Canadian Natural will immediately integrate ACC into its ongoing operations. ACC's land and production base are all located in Western Canada and are high quality, concentrated natural gas weighted assets with strong netbacks and a long reserve life. ACC produces in excess of 350 million cubic feet of natural gas per day and approximately 9 mbbl/d of light crude oil and NGLs production and will provide additional upside to Canadian Natural's already strong natural gas project portfolio in Canada. The assets also include approximately 1.5 million net undeveloped acres and key strategic facilities in the high growth areas of Northeast British Columbia and Northwest Alberta.
Canadian Natural is a senior oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of the North Sea and offshore West Africa.
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Company: Anadarko Petroleum more info
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