Royal Dutch Shell PLC offered to buy Calgary, Alberta-based Duvernay Oil Corp. for US$5.87 billion, in a move that would bolster its presence in "unconventional" oil and gas, fast emerging as one of the Anglo-Dutch major's key strengths.
Duvernay
Shell Targets Elusive Gas With Bid
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Shell in C$5.9bn Canada gas deal
Shell in C$5.9bn Canada gas deal
By Ed Crooks In London
Published: July 14 2008 15:30 | Last updated: July 14 2008 20:01
Over a barrel: Shells bid illustrates the importance of moving away from oil and into unconventional resources
Royal Dutch Shell, Europes biggest oil company, has made its first takeover bid since 2006, launching an agreed C$5.9bn (US$5.87bn) offer for Duvernay Oil, a Canadian gas company.
The bid is Shells second significant deal in Canada in successive years; last year it bought out the minority interests in its Shell Canada subsidiary for $7.1bn.
Shell Canada Pays $5.9 Billion for Gas Company
OTTAWA Duvernay Oil, a natural gas company based in Alberta, agreed on Monday to be acquired by a larger rival, Shell Canada, for $5.9 billion.
Shell buys Duvernay for ‘tight gas assets
The price for Calgary- based Duvernay Oil, founded just seven years ago, surprised the market but Shell is anxious to build up assets of what the industry calls tight gas in western Canada.
Shell looks to Canada to grow
Royal Dutch Shell, Europes biggest oil company, has made its first takeover bid since 2006, launching an agreed C$5.9bn (US$5.87bn) offer for Duvernay Oil, a Canadian gas company.
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