Deal Insight

Shell sells Alberta Deep Basin and Northeast B.C. Montney assets to Tourmaline Oil for US$1 billion

Get this report

$1,650

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- Available as part of a subscription
- FAQ's about online orders

27 October 2016

Shell sells Alberta Deep Basin and Northeast B.C. Montney assets to Tourmaline Oil for US$1 billion

Report summary

On 20 October 2016, Tourmaline Oil Corp. agreed to purchase assets from Shell in the Alberta Deep Basin and the Gundy area of the Montney for a cash consideration of US$756 million and US$279 million of Tourmaline shares. The assets produced an average of 24,850 boe/d (liquids and dry gas) at the time of announcement and are a strong strategic fit with Tourmaline's existing portfolio. The deal will cement Tourmaline as one of the largest gas producers in the Western Canadian Sedimentary Basin with projected production surpassing 300,000 boe/d by 2018. Shell announced its intention to divest US$30 billion of assets (upstream and non-upstream) between 2016 and 2018, following its acquisition of BG. This deal takes Shell's total to-date to US$4.5 billion. Shell remains committed to actively work to develop its mature core asset base in both the Montney and Duvernay.

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
    • Tourmaline
    • Shell
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Gundy Montney production profile
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    Shell sells Alberta Deep Basin and Northeast B.C. Montney assets to Tourmaline Oil for US$1 billion

    PDF 296.26 KB

Other reports you may be interested in

Browse reports by Industry Sector