Canadian Natural Resources decides to retain Canada shale assets

09 January 2014 14:48  [Source: ICIS news]

TORONTO (ICIS)--Canadian Natural Resources (CNR) has decided to retain its Montney shale gas assets in Canada’s British Columbia province, the Calgary-based energy firm said on Thursday.

Last year, CNR said that it may seek to sell part of Montney outright or find a partner with expertise in liquefied natural gas (LNG) to jointly develop them.

In an update on Thursday CNR said that it received a number of expressions of interest for the assets which hold “contingent resources” of about 6.7 trillion cubic feet of gas.

“However, none of the expressions were of sufficient merit to complete a transaction at this time, and as such, the company has elected to retain the acreage,” it said.

CNR holds one of the largest Montney land positions with over 1m net acres, it added.

By: Stefan Baumgarten
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index