Deals
Canadian Natural Weighs Shale Sale Amid Glut: Corporate Canada
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Decisions by Canadian Natural Resources Ltd. and Talisman Energy Inc. to sell almost half a million acres of natural gas-soaked rock threaten to depress prices for land that drew a record premium last year.
Canadian Natural may sell 250,000 acres in the Montney Shale, one of western Canada’s largest gas finds. Talisman also is seeking a buyer for parts of its 200,000-acre holding, which it estimates may be worth as much as $1.5 billion. The Calgary-based companies join other producers who are offering acreage after Exxon Mobil Corp. and Petroliam Nasional Bhd., or Petronas as the Malaysian company is known, paid billions of dollars for stakes in the Montney.