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.