Shell sells Alberta oil sands project for $325M


Royal Dutch Shell (RDS.A, RDS.B) agrees to sell its Orion oil sands project in Alberta to privately-held Osum Oil Sands Corp. for $325M.

Orion has been in operation since 2007 and pumped ~6,700 barrels of bitumen per day from 22 steam-driven well pairs as of Q1.

Osum is chaired by former Suncor (SU) CEO Rick George, who helped his former company grow from a valuation of $1B to more than $50B.

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Comments (2)
  • Charles Onyeagba
    , contributor
    Comments (2) | Send Message
     
    Any body knows..how much barrels of oil per day form Orion oil sands?
    12 Jun 2014, 08:51 AM Reply Like
  • Charles Onyeagba
    , contributor
    Comments (2) | Send Message
     
    Anybody knows...How much barrels of oil is produced or will be produced from Orion Oil sands?
    12 Jun 2014, 09:10 AM Reply Like
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