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Canadian Natural to acquire Barrick Energy for $173M

Canadian Natural (CNQ) announces entering into an agreement relating to the acquisition of Barrick Energy, a subsidiary of Barrick Gold (ABX), following the sale by BEI of certain assets, for cash consideration of approximately $173M and a gross overriding royalty on certain lands at Nipisi. The current production, before royalties, from the working interests acquired by Canadian Natural, is approximately 4,200 barrels per day of light crude oil and NGLs and approximately 4.4M cubic feet per day of natural gas. The transaction is targeted to close July 31.