On June 20, 2025, the Competition Bureau of Canada announced a consent agreement with Canadian Natural Resources Limited (CNRL) to address potential anti-competitive effects stemming from CNRL's proposed acquisition of Schlumberger N.V.'s (SLB) stake in the Palliser Block joint venture. This joint venture includes SLB's significant interest in 16 natural gas processing plants located in southeastern Alberta.

The Bureau's investigation revealed that the acquisition could lead to increased market concentration around three key natural gas processing plants: Seiu Lake, Wintering Hills, and Wayne Dalum, all situated approximately 130 kilometers east of Calgary. Such concentration raised concerns about potential price hikes and reduced options for natural gas producers in the region.

To alleviate these concerns, CNRL has agreed to divest 75% of its interest in the Seiu Lake natural gas processing plant to North 40 Resources Inc., a local oil and natural gas exploration company. North 40 will take over operational control of the plant, while CNRL retains a non-operating 25% interest. This arrangement is expected to maintain competitive dynamics in the area, ensuring that local producers have access to two processing options.

The Bureau expressed satisfaction with the cooperation shown by both parties during the review process, which facilitated the resolution of the competition concerns. The full consent agreement will be accessible on the Competition Tribunal's website, reinforcing the Bureau's commitment to promoting competition in the Canadian energy sector.