M&A Deal Summary

Canadian Natural Acquires Barrick Energy

On July 23, 2013, Canadian Natural acquired oil/gas exploration company Barrick Energy from Barrick for 173M USD

Acquisition Highlights
  • This is Canadian Natural’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is Canadian Natural’s 2nd largest (disclosed) transaction.
  • This is Canadian Natural’s 2nd transaction in Canada.
  • This is Canadian Natural’s 2nd transaction in Alberta.

M&A Deal Summary
Date 2013-07-23
Target Barrick Energy
Sector Oil/Gas Exploration
Buyer(s) Canadian Natural
Sellers(s) Barrick
Deal Type Divestiture
Deal Value 173M USD

Target

Barrick Energy

Calgary, Alberta, Canada
Barrick Energy Inc. is a private company engages in oil and gas exploration, development, and production services in Canada.

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Buyer(S) 1

Buyer

Canadian Natural

Calgary, Alberta, Canada
Category Company
Founded 1973
Sector Oil/Gas Exploration
Employees10,272
Revenue 40.8B CAD (2023)
DESCRIPTION

Canadian Natural is an independent crude oil and natural gas producers in the world. The Company continually targets cost effective alternatives to develop portfolio of projects and to deliver defined growth plan, thereby creating value for shareholders. Canadian Natural was founded in 1973 and is based in Calgary, Alberta.

DEAL STATS #
Overall 2 of 4
Sector (Oil/Gas Exploration) 2 of 4
Type (Divestiture) 1 of 2
State (Alberta) 2 of 3
Country (Canada) 2 of 4
Year (2013) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-16 North West Upgrading

Calgary, Alberta, Canada

North West Upgrading is a private company based in Calgary, Alberta that will build and operate a highly profitable and environmentally responsible bitumen refinery in Alberta, creating high value products for local and international markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-02 Devon Canada - Canadian Conventional Assets

Canada

Devon Canada - Canadian Conventional Assets comprises lands and production located in Western Canada in areas adjacent orproximal to Canadian Natural’s current operations and are high quality, concentrated liquids-rich natural gas weighted assets, with additional light crude oil exposure.

Buy $3.1B

Seller(S) 1

SELLER

Barrick

Toronto, Ontario, Canada
Category Company
Founded 1983
Sector Metals/Mining
Revenue 11.4B USD (2023)
DESCRIPTION

Barrick operates mines and advanced exploration and development projects on five continents, and holds large land positions on some of the most prolific and prospective mineral trends. Barrick was incorporated in 1983 and is headquartered in Toronto, Ontario.

DEAL STATS #
Overall 2 of 9
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 2 of 8
State (Alberta) 1 of 1
Country (Canada) 1 of 3
Year (2013) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-06 The royalty portfolio

United States

The royalty portfolio consists of royalties on 72 properties, including 8 producing royalties, 2 development stage properties, 19 evaluation stage properties, and 43 exploration projects. Approximately 75% of the portfolio consists of precious metals royalties.

Sell $150M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-01 Kundana and Kanowna Belle Gold Mines

Kalgoorlie-Boulder, Australia

Kundana and Kanowna Belle Gold Mines designed to handle approximately 1.8 million tonnes of feed per annum. It contains proven and probable reserves of roughly 600,000 ounces, along with measured and indicated resources of another 600,000 ounces.

Sell AU$75M
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