Shell EP Americas buys Canadian land leases
21 Mar 2006, Shell Exploration & Production in the Americas (Shell EP Americas) announced today that it has established SURE Northern Energy Ltd. (SURE Northern), a Canadian corporation, to evaluate and potentially develop heavy oil resources secured in the February 8, 2006 Alberta Department of Energy Oil Sands Public Offering.
SURE Northern submitted the successful bid of C$465 million (around $400 million) for 10 parcels of land through a land agent.
“We are delighted to have secured this heavy oil acreage. Royal Dutch Shell has a suite of both enhanced and new heavy oil technologies that we could potentially apply to this type of resource. While not all of these technologies are commercially proven, we believe there is significant potential for us to pursue this opportunity and the first step is to further appraise this resource,” said Marvin Odum, Executive Vice President – Shell EP Americas.
“This move represents a distinct opportunity to assess new and emerging technology. It complements our existing strong position in Canadian oil sands through Shell Canada Limited (SCL). The establishment of SURE Northern does not change the relationship between Royal Dutch Shell and Shell Canada, and as the major shareholder in Shell Canada (SCL), Royal Dutch Shell maintains its full support for SCL’s ongoing business, and its strong commitment to SCL’s future success and growth”.
Appraisal wells are currently being planned for this year.
Steven Crane will be the President of SURE Northern and will be based in Calgary.
Notes for Editors
SURE Northern Energy Ltd. (SURE Northern), a Canadian corporation, is a wholly owned subsidiary of Royal Dutch Shell plc.
Shell EP Americas is a part of the Exploration & Production business of the Shell Group of companies, managing EP operations in North and South America.
- Contact Information
- Andy Corrigan
- Exploration & Production
- Royal Dutch Shell plc
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.