Canadian Natural Resources Ltd, the country's largest independent oil and gas producer, said on Friday it will consider spinning off or selling its stream of royalty income from its wholly owned lands in Western Canada, making it the latest Canadian energy company to ponder the move.Steve Laut, the company's president, said the company was in the early stages of considering the spin-off of its royalty income, which are payments from third-party oil and gas production on its lands.Spinning off such a royalty stream would offer Canadian Natural cash up front, with the potential of retaining majority control of that royalty stream.However Canadian Natural is waiting to familiarize itself with the additional royalty properties that came with its C$3.13 billion ($2.87 billion) April acquisition of Devon Energy Corp's Western Canadian properties before making a final decision on what to do with the money, which he estimates will run between C$140 million and C$150 million in 2014.
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 0.77% or $-0.55/share to $70.44. 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 1824611.
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