On Monday, Royal Dutch Shell announced an agreed C$5.9bn (£2.9bn) deal to buy Duvernay Oil, a gas producer in western Canada.
Duvernay Oil
Oklahoma deal signals growing trend for hard-to-extract ‘tight gas’
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Duvernay Directors Unanimously Recommending Acceptance of Shell Canada Offer
Duvernay Oil Corp. ("Duvernay") (TSX:DDV) announced today that the mailing of its Directors' Circular unanimously recommending that the holders of common shares of Duvernay accept the previously announced cash offer by Shell Canada Limited...
‘Phenomenal’ oil and gas rights sale sets stage for exploration push in B.C.
The high-priced sale, along with Royal Dutch Shell PLC's $5.23-billion agreement earlier this week to buy a key operator in the region, Duvernay Oil Corp., highlights how hot the region is right now.
Statement by Royal Dutch Shell Plc: Shell Canada Limited files formal offer for Duvernay Oil Corp.
Shell Canada Limited files formal offer for Duvernay Oil Corp.
Shell Canada Limited, a wholly owned subsidiary of Royal Dutch Shell plc (“Royal Dutch Shell”), has filed its formal offer (the “Offer”) to acquire all the common shares of Duvernay Oil Corp. (“Duvernay”) with securities regulators in Canada, and has mailed its offering circular and related documents (the “Offer Documents”) to Duvernay shareholders.
The Offer remains open until 1:01 a.m. (Calgary time) on August 22, 2008, unless the Offer is withdrawn or extended by Shell Canada Limited. Under the terms of the Offer, Duvernay shareholders will receive C$83.00 for each Duvernay common share.
BP to Buy Oklahoma Land for Natural Gas
Shell Canada agreed this week to spend about $5.9 billion to buy Canadas Duvernay Oil Corporation to increase its production from difficult-to-extract deposits.
British Columbia Sets Land Sale Record on Natural-Gas Project
Shell offered a 42 percent premium for Duvernay, which has more than 500 Montney drilling prospects that could contain more than 1 trillion cubic feet of reserves, according to the Canadian company's annual report.
Shell’s Canadian Gas Play
By the simple act of opening its wallet and extracting a few billion dollars, Royal Dutch Shell (NYSE: RDS-A)(NYSE: RDS-B) is getting involved in what may become one of the biggest natural gas plays in North America. Or at least it'll do so when it completes the purchase ofDuvernay Oil.
Peak oil at the boardroom table
So with Shell agreeing to pay a hefty 42 per cent premium for Duvernay, the debate is now on: Does that signal that the buyers have come around to the sellers' way of thinking? And if so are we just before the peak or just after?
‘We love to explore. That’s what we do’
Mike Rose: After graduating in 1979, he started at Shell Canada Ltd., moving through a variety of in-house jobs that taught him the industry. His time there also brought about an introduction to his wife, Sue, then an engineer with Shell.
Royal Dutch Shell announces a proposal to acquire all the outstanding shares in Duvernay Oil Corp.
Shell's Chief Executive Jeroen van der Veer commented "Shell has a proven track record in North America tight gas activities. Duvernay could become a valuable part of the Shell portfolio, where we can add value through technology and scale. The combination of Duvernay's acreage with Shell's proven operating experience and financing capabilities make this transaction attractive to all shareholders."
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