Canadian Natural Resources acquires Joslyn oilsands project for $225 million

By Editor / August 31, 2018 / www.canadianinvestor.com / Article Link

CALGARY - Canadian Natural Resources Ltd. says it has signed a deal to buy the Joslyn oilsands project from Total SA and its partners for $225 million.

Under the deal, Canadian Natural will pay $100 million in cash on closing the agreement and make annual cash payments of $25 million over the next five years.

The Joslyn project is directly south of Canadian Natural's Horizon project. It was put on hold indefinitely in 2014.

Total has been reducing oilsands commitments in recent years. It holds a 38.25 per cent stake in the Jocelyn project, while Suncor Energy holds 36.75 per cent.

The Joslyn Partnership holds 15 per cent and Inpex Canada Ltd. owns 10 per cent.

The transaction, which subject to regulatory approval, is expected to close on Sept. 28.

Companies in this story: (TSX:CNQ, TSX:SU)

The Canadian Press

Recent News

Gold stocks lead the large cap miners by far over H1/25

July 07, 2025 / www.canadianminingreport.com

Gold stocks up as the metal price and equities gain

July 07, 2025 / www.canadianminingreport.com

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok