March 22, 2006
Shell Americas buys Canadian land leases
Houston, Texas – Shell Exploration & Production in the Americas (Shell EP Americas) has announced that it has established a Canadian corporation, SURE Northern Energy Ltd., to evaluate and potentially develop heavy oil resources. SURE Northern submitted a successful bid of $465 million for ten parcels of land through a land agent.
“We are delighted to have secured this heavy oil acreage,” said Marvin Odum, Executive Vice President of Shell EP Americas. “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.”
Appraisal wells are currently being planned for this year; SURE Northern will be based in Calgary, Alberta.