![]() Client Work Canadian Natural Resources Limited Announces Acquisition of Chevron's Alberta Assets for US$6.5 BillionOctober 7, 2024 Authors Patrick T. Maguire KCVice Chair and Partner Ashley M. WhitePartner Greg M. JohnsonPartner Zirjan (Zee) J. DerwaPartner Stephen D. BurnsPartner, Trademark Agent Laura InglisPartner Sydney OlsenAssociate Kolding LarsonAssociate Canadian Natural Resources Limited announced that it entered into an agreement to acquire, subject to regulatory approvals, from Chevron Canada Limited its 20 percent interest in the Athabasca Oil Sands Project (AOSP), which includes 20 percent of the Muskeg River and Jackpine mines, the Scotford Upgrader and the Quest Carbon Capture and Storage facility. This acquisition brings Canadian Natural’s total current working interest in AOSP to 90 percent. In addition, Canadian Natural has also agreed to acquire, subject to regulatory approvals, Chevron’s 70 percent operated working interest of light crude oil and liquids rich assets in the Duvernay play in Alberta. Bennett Jones is acting as legal advisor to Canadian Natural Resources Limited. The Bennett Jones team is led by Pat Maguire (Commercial) and includes Ashley White (Commercial), Greg Johnson (Tax), Zee Derwa (Competition), Stephen Burns (Technology), Laura Inglis (Employment), Sydney Olsen, Stephanie Driedger (Commercial) and Kolding Larson (Competition). Republishing Requests For permission to republish this or any other publication, contact Amrita Kochhar at kochhara@bennettjones.com. For informational purposes only This publication provides an overview of legal trends and updates for informational purposes only. For personalized legal advice, please contact the authors. AuthorsPatrick T. Maguire KC, Vice Chair and Partner Calgary • 403.298.3184 • maguirep@bennettjones.com Ashley M. White, Partner • Co-Head of Energy Practice Calgary • 403.298.3471 • whitea@bennettjones.com Greg M. Johnson, Partner Calgary • 403.298.4470 • johnson@bennettjones.com Zirjan (Zee) J. Derwa, Partner Toronto • 416.777.6442 • derwaz@bennettjones.com Stephen D. Burns, Partner, Trademark Agent • Co-Head of Innovation, Technology & Branding Practice Calgary • 403.298.3050 • burnss@bennettjones.com Laura Inglis, Partner Edmonton • 780.969.2644 • inglisl@bennettjones.com Sydney Olsen, Associate Calgary • 403.298.3231 • olsens@bennettjones.com Kolding Larson, Associate Toronto • 416.777.7829 • larsonk@bennettjones.com |