Shell buys Duvernay Oil Corp.

first_imgDuvernay Oil Corp. has agreed to be taken over by Shell Canada Ltd. The deal is worth $5.9 billion including assumed debt. Duvernay has significant land holdings in the Montney natural gas play north of Fort St. John – a region that has drawn a great deal of attention from major Canadian and U.S. energy companies.Shell, one of Canada’s biggest natural gas producers, has already teamed up with EnCana Corp. (TSX:ECA) to develop the emerging Haynesville shale play in Louisiana and Texas, so the Duvernay takeover will serve to deepen its unconventional gas business.In May of this year, the B.C.Government announced it had made a record $441 million in land sales, with a large parcel next to Duvernay’s Montney position garnering the biggest price.Advertisement – Advertisement -While the buyer of that land was not revealed at the time, there had been a lot of speculation that it was Shell, said BMO Capital Markets analyst Mark Leggett. “The market’s love for the Montney Northeast B.C. natural gas play is so strong that the possibility of Duvernay becoming a target was speculated upon by investors,” Leggett said, adding that the takeover price was in line with his expectations. The Duvernay takeover is likely a harbinger of more consolidation in the Montney play, Leggett said.The Boards of Duvernay and Shell have unanimously endorsed the deal, which requires approval from shareholders and regulators.Duvernay was founded in 2001 and has 1,800 square kilometres of land holdings in the sedimentary basin in Western Canada. It produces 20,000 barrels of oil equivalent per day and is aiming to increase output to 70,000 boe/d by 2012.last_img read more


first_imgRORY REDPATHThe sudden death has occurred of Rory Redpath, Corker, Rossnowlagh. Cremation will take place in Mount Jerome Crematorium, Harold’s Cross, Dublin, on Monday, April 30, 2012, at 3pm.MARY LEWIS The death has occurred of Mary Lewis (nee Murphy) of West End Bundoran and London Funeral Mass tomorrow, Saturday, at 10am in The Church of Our Lady Star of the Sea, Bundoran, followed by burial of ashes in St. Ninnidh’s Cemetery, Bundoran.JIMMY DOHERTYThe sudden death has occurred of Jimmy Doherty, Chapel Gate, Kincasslagh. His remains are reposing in McGlynn’s Funeral Home, Chapel Road, Dungloe. Funeral arrangements to be confirmed later. His own house is strictly private please.CHARLIE DOHERTY The death has taken place at Hillcrest Nursing Home, Long Lane, Letterkenny of Charlie Doherty, Clooncarney, Trentagh. Removal today (Friday) from the nursing home at 3.30pm going to his late residence. Funeral on Sunday to St Columba’s Church, Termon for 2pm Mass with burial afterwards to the adjoining cemetery. Family flowers only, donations in lieu to the Patients Comfort Fund, Hillcrest Nursing Home c/o any family member.BRIDGET COYLEThe death has taken  place at Aras Ui Dhomhnaill Nursing Home, Milford of Bridget Coyle, Gortnacor, Potrtsalon, Fanad. Remains reposing at her late residence. Funeral  from there tomorrow, Saturday, at 1.30pm for Requiem Mass at 2pm in St Columba’s Church, Massmount, followed by interment in the adjoining cemetery. Family time please, from 11pm to 10am. Family flowers only please, donations in lieu if desired to the Patients’ Comfort Fund, Aras Ui Dhomhnaill, Milford, c/o Eamon Scott Funeral Director or any family member.SEAMUS MCCORMICKThe death has taken place at Letterkenny General Hospital of Seamus Mc Cormick, Goland, Ballybofey. His remains are reposing at his late residence. Funeral leaving his home tomorrow, Saturday, at 10.15am for 11am Requiem Mass in St Mary’s Church, Sessiaghoneill, followed by interment in the adjoining cemetery. Family flowers only please, donations in lieu if desired to the Orthopaedic Ward, Letterkenny General Hospital, c/o any family member. Family time please from 11pm to 10am. BRIDGET TOYEThe death has taken place at the Donegal Hospice, Letterkenny of Bridget Toye, Lemcrossan, Quigleys Point. Her remains are reposing at her late residence. Funeral from there tomorrow, Saturday, at 1015am going to St Columba’s Church, Drung for Requiem Mass at 11am with burial afterwards in the adjoining cemetery.PAT GALLENThe death has taken place in Glasgow of Pat Gallen, formerly of Meenreagh, Killygordon. His remains will arrive at Belfast Docks today at 5.45pm. Removal from there to his sister, Alice Gallen’s residence, Creamery Road, Crossroads, Killygordon via Omagh, Clady and Castlefin, to arrive at approximately 8.30pm. Funeral from there tomorrow, Saturday, at 12.30pm for Requiem Mass at 1pm in St Patricks Church, Crossroads. Interment afterwards in the adjoining churchyard. SEAMUS SWEENEYThe death has taken place of Seamus Sweeney, Chapel Road, Dungloe. Remains reposing at his son Eddie Sweeney’s residence on the Chapel Road, Dungloe. Funeral mass tomorrow, Saturday, in St Crona’s Church, Dungloe at 11am with burial in Maghrey cemetery. House private from 11pm to 10am. Family flowers only, donations in lieu if desired to Renal Dialysis Unit, Letterkenny General Hospital.DONEGAL DEATH NOTICES FOR FRIDAY, APRIL 27, 2012 was last modified: April 27th, 2012 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:2012APRIL 27DONEGAL DEATH NOTICES FOR FRIDAYlast_img read more