Why It's Important Devon Energy CEO Dave Hager said the asset sale is consistent with the company's transformation to become a U.S.-focused oil growth business. The "clean and timely exit" from Canada will generate value for shareholders as it accelerates efforts to "focus exclusively on our high-return U.S. oil portfolio." "With this change in ownership, it is great to see our talented and innovative employee base transition to a top-tier company like Canadian Natural Resources," the CEO said in the press release. What's Next Devon also said the process of divesting its Barnett Shale gas assets in Texas remains ongoing with expectations to divest the assets by the end of the year. This move would "complete the company's transformation." Canadian Natural Resources' stock was trading lower by 2.7 percent at $25.55 per share Wednesday morning.