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Murphy to buy Shell interests in Alberta

Murphy Oil Corp. has agreed to buy Shell Canada Energy’s interests in the Seal Lake area of northern Alberta, where wholly owned subsidiary Murphy Oil Co. Ltd. already holds producing interests and is testing polymer flooding and steam stimulation.

The agreement covers 148,531 net acres, 2,200 boe/d of production, plant and equipment, and proved and probable reserves of 14 million boe.

When completed, the deal will make Murphy operator of the Shell interests and raise its holdings in the area to more than 331,000 net acres and production to more than 9,000 boe/d.

Murphy said a pilot polymer flood on its existing Seal Lake acreage was successful. It has received government approval for the first phase of a commercial polymer project.

It also has received approval for a single cyclic steam pilot project and plans a vertical steam pilot next year.


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