Seeking Alpha

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.
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, 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, 09:10 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector