Latest News and HighlightsTRANSFORMATIONAL CHANGE: PIERIDAE CLOSES SHELL ASSETS ACQUISITION

2019/10/17

Critical Step on the Road to Building the US$10 billion Goldboro LNG Project

It’s official: Pieridae now owns all of Shell Canada’s Alberta Foothills-area production and assets.

The $190 million deal includes: three gas plants - Jumping Pound (seen in the photo above), Caroline and Waterton; just under 29,000 BOE/d of production; a 14 per cent working interest in the Shantz sulphur forming plant, and 1,700 kilometers of pipelines.

“We are very pleased to close this deal as it helps us secure the majority of the gas needed to supply the first train at Goldboro,” said Pieridae’s Chief Executive Officer Alfred Sorensen. “We will complete our work with KBR to develop a fixed price contract to build Goldboro, then finalize project financing and make a final investment decision.”

Pieridae now has an extensive drilling inventory including multiple dry gas and liquids-rich gas reservoirs in the Foothills, and is now in an ideal position to leverage the US$1.5 billion of anticipated German Government-backed guarantees for conventional gas supply development.