Canadian Natural ponders spin off or sale of royalty income
CALGARY, Alberta May 9 (Reuters) - Canadian Natural Resources Ltd said on Friday it is considering spinning off or selling its stream of royalty income from its wholly owned lands in western Canada.
Steve Laut, the company's president, said on a conference call that it will have between C$140 million ($128.9 million) and C$150 million, in pretax royalty revenue from third-party oil and gas production on its properties, including those recently acquired from Devon Energy Corp.
Laut said Canadian Natural is looking at selling the income stream directly or spinning it off into a separate company. He said the company will make a final decision later this year. ($1 = 1.0866 Canadian dollars) (Reporting by Scott Haggett; Editing by Jeffrey Benkoe)