Weekly OFS Newsletter
News Items Ending July 30, 2018
Mergers & Aquisitions
Canadian Natural Resources Ltd. (TSX:CNQ) announced the acquisition of Calgary, AB based Laricina Energy Ltd., a developer of in situ bitumen deposits in sand and carbonate formations. The offer from Canadian Natural is the result of the extensive formal strategic alternative process launched by Laricina starting in February 2018.
According to the Energy Information Administration, US crude oil inventories tumbled to its lowest level since February 2015 last week as exports jumped and stockpiles at the Cushing, OK hub decreased.
According to Kinder Morgan Canada Ltd. (TSX:KML), the Trans Mountain pipeline expansion will move ahead with construction in August, with the pipeline being in the ground in early 2019.