Canadian Natural Resources entered into an agreement to acquire certain oil sands and liquids rich unconventional assets from Chevron Canada for total cash consideration of US$6.5 billion.
This acquisition meaningfully enhances CNRL’s free cash flow profile while strengthening near-term growth prospects. Concurrent with the acquisition, CNRL announced a 7% dividend increase, marking the 25th anniversary of consecutive dividend increases.
RBC Capital Markets acted as Joint Bookrunner and Joint Lead Arranger on the new C$4 billion term loan facility.
