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.

Related Articles

Market watch: Energy futures prices rose slightly Friday

05/06/2002 Crude oil futures prices rose slightly Friday amid lingering uncertainty about a possible disruption of Middle East supplies, although tensions in ...

Gulf of Mexico oil service sector showing signs of an upturn

05/06/2002 The Gulf of Mexico oil service sector is experiencing the signs of an upturn, analysts with Simmons & Co. International, UBS Warburg LLC, and RBC D...

OTC: Industry, national agencies need to work together to make FPSOs work in the gulf

05/06/2002 Over the coming years, the oil and gas industry will have to keep an open line of communication with national agencies such as the US Coast Guard a...

Market watch: Energy futures prices fall as Iraq lifts embargo

05/07/2002 Crude oil futures prices fell Monday after Iraq announced plans to lift a self-imposed export embargo with exports expected to resume by Wednesday.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected