Canadian Natural Resources Ltd. has completed its offer to acquire Laricina Energy Ltd., reporting acceptance by holders of 98.7% Laricina’s issued and outstanding shares. Both companies are based in Calgary.
The buyer expected to pay $46.35 million (Can.) for the shares by Sept. 18.
Laricina owns two steam-assisted gravity drainage projects in the West Athabasca region of Alberta, Germain and Saleski, both suspended in early development stages in 2015.
Laricina worked under court protection from creditors during 2015-16.