Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Shell in Asset Swap with Murphy

change text size

Royal Dutch Shell announced Wednesday that it has increased its participation in the Schiehallion Field, west of the Shetland Islands, and that it would also be selling its Canadian Seal area oil shale assets.

Shell said that it was acquired Murphy Schiehallion Limited's 5.9-percent stake in the Shiehallion field, which will bring its total stake in the field to 55 percent as well as offering Shell access to substantial additional reserves and redevelopment potential within the UK.

Other partners in Schiehallion include BP (the operator) with a 35.5-percent interest, Statoil (5.9%) and OMV (5.9%).

In a separate agreement, Murphy Oil Company – an active developer in the Seal area of Canada – will take over Shell's interest there. The Seal area is located within the Peace River oil sands of Alberta and Shell stressed that this divestment would not impact its focus on growth activities within other parts of its Peace River leases.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Odjfell Revenues, Profits Decline duri... (Nov 26)
 -  Urals Receives Payment for Tanker Ship... (Nov 26)
 -  Arctech Starts Construction Sakhalin I... (Nov 26)
 -  CNOOC Flows First Oil from Xijiang 24-... (Nov 25)
 -  Faroe Completes Sale of Glenlivet Stak... (Nov 25)
Most Popular Articles
From the Career Center
Jobs that may interest you
Strategic Account Manager
Expertise: Business Development
Location: Houston, TX
 
Vice President Regional Business Development
Expertise: Business Development, Sales and Marketing, Technical Sales
Location: Houston, TX
 
Appraisal Risk Management - Project Coordinator III
Expertise: Risk Management
Location: Anchorage, AK
 
search for more jobs