Royal Dutch Shell PLC subsidiary Shell Gas BV has agreed to sell all its interest in oil sands producer Canadian Natural Resources Ltd.
The underwriting agreement with Goldman Sachs & Co., RBC Capital Markets, Scotiabank, and TD Securities includes the 97.6 million shares for total pretax proceeds of $3.3 billion.
The sale, expected to be complete on May 9, is part of the company’s 3-year, $30-billion divestment program that included a March 2017 sale of a large portion of its Canadian oil sands interests for $7.5 billion (OGJ Online, Mar. 9, 2017).