The announcement that Canadian Natural Resources Ltd. would purchase substantially of all Devon Energy’s Canadian assets means the nation’s biggest oil and gas producer is only getting bigger.

The $3.8 billion purchase is set to close June 27 considered a bargain by many commentators.

CNRL’s manager of public affairs, Julie Woo, said Devon’s former Bonnyville and Lloydminster operations are a big asset.

“The primary heavy oil assets that Canadian Natural is acquiring in the Bonnyville and Lloydminster region are an excellent fit with our current operations, providing significant opportunities to enhance the overall effectiveness and efficiency of the combined operations,” said Woo in an emailed statement.

She said that 735 employees from Devon will work for CNRL at their head office in Calgary.

Woo added that CNRL hasn’t laid any workers off despite tough economic times.

“It is also important to note that Canadian Natural has kept our team together through the downturn by not having any economic layoffs while also growing our team through previous acquisitions,” said Woo.

Although, nearly 2000 layoffs were looming in February with the near shut-in of the ECHO pipeline due to the provincial curtailment, and a report in early 2017 that a hiring freeze from three years earlier had meant a net loss of 400 jobs due to vacancies.

The Financial Post reported that CNRL has spent $37.4 billion in recent years to bolster its operations.

CNRL spent $3.13 billion in 2014 to acquire Devon’s conventional oil and gas assets in Canada.

The deal includes many cold flow oil operations, the Jackfish SAGD operation, and the proposed nearby Pike SAGD project just south of Conklin, which Devon owned in a 50-50 split with BP.

Earlier this morning CNRL evacuated its Pelican Lake and Woodenhouse operations in northern Alberta due to the ongoing wildfires.