Pieridae Energy Acquires Shell Canada Gas Assets to Feed LNG Export Project
Pieridae Energy Limited, sponsor of the proposed Goldboro LNG liquefaction and export terminal in Guysborough County, Nova Scotia, announced that it has closed its acquisition of all of Shell Canada Energy’s midstream and upstream assets in the southern Alberta Foothills (the “Assets”) for $190C million. According to the press release, in the first six months of 2019, the Assets produced approximately 28,634 barrels of oil equivalent per day, consisting of approximately 119 MMcf/day of natural gas, 5,656 bbl/day of natural gas liquids and 3,163 bbl/day of condensate and light oil. Pieridae also acquired three deep cut, sour gas processing plants (Jumping Pound, Caroline and Waterton), with a combined capacity of approximately 750 MMcf/day (currently operating with 420 MMcf/day of spare capacity), a 14% working interest in the Shantz sulphur forming plant, and approximately 1,700 kilometres of pipelines.