Devon Energy Corp. To Leave Alberta




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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.