CANADIAN NATURAL RESOURCES LIMITED: 2100, 855 - 2 nd Street S.W.

The acquired production, infrastructure and land compliments Canadian Natural’s natural gas assets in key operating areas, providing opportunities to leverage synergies with a significant amount of pre-built infrastructure and transportation available.

Canadian Natural welcomes Painted Pony employees to its Northeast British Columbia and Calgary head office teams. Calgary, Alberta, T2P4J8 Phone: 403-514-7777 Email: [email protected] www.cnrl.com … CALGARY, Alberta, Aug. 10, 2020 (GLOBE NEWSWIRE) — Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces it has entered into a definitive arrangement agreement with Painted Pony Energy Ltd. (“Painted Pony”) relating to the acquisition of all the issued and outstanding common shares of Painted Pony, for a cash consideration of $0.69 per share. The deal won't be a game-changer for … The assets include properties in the Northeast British Columbia areas of Blair, Daiber, Kobes and Townsend, it said. Refer to our website for complete forward-looking statements www.cnrl.com, 2020 GlobeNewswire, Inc., source Press Releases, Cenovus shares plummet on news of its $3.8-billion deal to buy oilsands rival, Canada's Cenovus to buy Husky for $2.9 billion as pandemic drives oil mergers, Cenovus to buy Husky for $2.9 billion to create No.3 Canadian energy firm; more deals seen. Contact Information.

CALGARY, Alberta, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Painted Pony Energy Ltd. (“Painted Pony”) (TSX: PONY) today announces the closing of the previously announced acquisition of Painted Pony by Canadian Natural Resources Limited ("Canadian Natural") (TSX, NYSE: CNQ) pursuant to a plan of arrangement (the “Arrangement”).. Pursuant to the Arrangement, shareholders of Painted Pony … , CNRL said the acquisition consists of a cash consideration of $0.69 per share and it will also assume Painted Pony’s total debt of approximately $350 million. Canadian Natural is a senior oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of the North Sea and Offshore Africa. This opportunistic transaction remains modest relative to Canadian Natural Resources' significant. CALGARY, Alberta, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces that the previously announced acquisition by Canadian Natural of all the issued and outstanding common shares of Painted Pony Energy Ltd. (“Painted Pony”) pursuant to a plan of arrangement has been completed.

The website address for Stockhouse has changed. Canadian Natural Resources agreed to acquire Painted Pony. We look forward to working together with the staff currently employed by Painted Pony,” said, “Weak prices for natural gas over the past three years and a recent decline in natural gas liquids (“NGL”) prices have resulted in lower than expected adjusted funds flow. “Given the challenges facing Painted Pony, including potential near-term liquidity considerations, the Corporation’s Board of Directors (the “Board”) initiated a confidential process, supervised by a special committee of independent members of the Board (the “Independent Committee”) to explore opportunities to enhance shareholder value (the “Process”).

CNRL’s acquisition of Painted Pony will help to re-balance the oil/gas split in CNRL’s portfolio as well as adding almost 200 producing wells, says Evaluate Energy senior M&A analyst Eoin Coyne. The deal won't be a game-changer for …

“After reviewing Painted Pony’s current circumstances and the proposals received in connection with the Process, the Board determined that the Transaction represented the best alternative for Painted Pony’s shareholders given current industry, economic and capital markets conditions. Canadian Natural Resources agreed to acquire Painted Pony. This transaction also allows us to further insulate against natural gas costs in our oils sands operations and has minimal impact on the Company’s low overall corporate decline rate. We use cookies to ensure that we give you the best experience on our website.

Painted Pony’s stock jumped nearly 16 per cent to $0.68 per share, while Canadian Natural rose half a per cent to $26.89 on the Toronto Stock Exchange.

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