Wednesday, January 9, 2019

Shell in discussions to sell Foothills sour gas assets, including Waterton Complex

Shell Waterton (PC Voice file photo)
Shell Canada - Shell Canada is in exploratory discussions to sell its Foothills sour gas assets in central and southern Alberta, including the Waterton Complex and its gas fields. If there are no qualified buyers, Shell will continue to operate the site. There are no plans for closure.

“We have been proud to call these communities home for many, many years. The folks around here have taught us much about what it means to be a good neighbour,” said Rej Tetrault, General Manager, Foothills and Groundbirch, Shell Canada. “And, while this wasn’t an easy decision, I’m proud of the business we’ve built here and I expect potential buyers will also see the value we’ve created. In the meantime, we will continue to focus on safe operations.”

Our Waterton Complex has been a cornerstone of Shell’s upstream business in Canada for decades but is no longer a natural long-term fit with Shell’s evolving portfolio. Another owner may see a strategic opportunity for the development of this asset.

Shell Canada has increasingly prioritized investment in its growing integrated gas and shales businesses, which our recent decision to invest in LNG Canada demonstrates. In Alberta, we remain committed to our shales portfolio and will continue to look for optimal processing options.

At this time, discussions have not resulted in agreements with any party.

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