Devon Energy Corp. To Leave Alberta
After 20 years in Alberta’s oil patch Devon Energy Corp. is leaving Canada.
The company will sell its Canadian business to Canadian Natural Resources Ltd. for $3.8 billion. The Oklahoma-based oil and gas producer is going to shift its focus back to the U.S.
Devon’s Canadian production had reached a net average of 113,000 oil-equivalent barrels in the first quarter of 2019. The sale is expected to be finalized by the end of the second-quarter.
It’s not clear whether there will be layoffs as a result of the sale.
