Oklahoma City-based oil and gas company, Devon Energy, says it is selling nearly all of its assets in Canada to Canadian Natural Resources for $2.8 billion. Included in the S&P 500, Devon put its Canadian assets up for sale in February in a plan to focus on growth from wells drilled in the U.S. shale fields.
The deal is expected to close June 27th. Devon's exit from Canada follows recent asset sale there by foreign companies including Arkansas-based Murphy Oil and Houston-based ConocoPhillips.
