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Wednesday, February 19, 2014

Canadian Natural to purchase some of Devon's Canadian natgas assets, (NYSE: DVN)

Canadian Natural Resources Ltd said on Wednesday it would purchase some of Devon Energy Corp's liquids-rich natural gas assets in Canada for $3.13 billion. The deal excludes Devon's Horn River assets in northern British Columbia and heavy oil properties in Alberta.

Devon Energy Corporation (Devon) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). Shares of DVN traded higher by 1.39% or $0.86/share to $62.91. In the past year, the shares have traded as low as $50.81 and as high as $66.92. On average, 3400290 shares of DVN exchange hands on a given day and today's volume is recorded at 5137014.