CHAPTER 16
Non-Core Divestitures
On March 9, 2017, Canadian Natural Resources (CNQ) announced the acquisition of a majority stake in the Athabasca Oil Sands project (AOSP) and a hodgepodge of additional oil sands and heavy oil assets from Royal Dutch Shell and Marathon Oil.† The total cost of this acquisition was $C12.74 billion with $C4 billion of the purchase price in CNQ stock.
The Athabasca Oil Sands project is an integrated oil sands mining operation that involves the following production steps:
• Excavate energy-rich earth
• Place that energy-rich earth onto large trucks
• Detach energy-rich bitumen from the earth using a separation process
• Put the bitumen through an upgrader to create commercially salable oil
While clearly not the ...
Get Capital Allocation: Principles, Strategies, and Processes for Creating Long-Term Shareholder Value now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
