Canadian Natural Resources Ltd said on Friday it is considering spinning off or selling its stream of royalty income from its wholly owned lands in western Canada. Steve Laut, the company's president, said on a conference call that it will have between C$140 million ($128.9 million) and C$150 million, in pretax royalty revenue from third-party oil and gas production on its properties, including those recently acquired from Devon Energy Corp.
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 fell by 1.1% or $-0.78/share to $70.21. In the past year, the shares have traded as low as $51.66 and as high as $73.79. On average, 3525850 shares of DVN exchange hands on a given day and today's volume is recorded at 1111622.
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