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Given the increasing focus on LNG projects in Canada, we thought it would be worthwhile to provide an activity update on Shell Canada using public data tools BOE Intel and Petro Ninja. The parent company Royal Dutch Shell is the largest stakeholder in the LNG Canada project (40%).
Shell Canada’s main Montney asset is at Grounbirch in northeast BC, adjacent to Ovintiv’s Sunrise development. The company also has Montney acreage south of Grande Prairie at Elmworth. Drilling activity levels for Shell have remained light in the last number of years, while the company builds out facilities at LNG Canada, although some uptick in activity was observed in 2022.
Below we can see some of the company’s crown mineral rights in yellow, and any wells spud since the beginning of 2018 in black.
Using BOE Intel, we can get a picture for what assets Shell Canada has been acquiring or disposing of over the last couple of years. In the last 2 years, there was obviously the big Duvernay disposition to Crescent Point, but we can see some mineral rights transfers as well. Interestingly, Shell Canada does not show up as a ‘buyer’ over that time period for any assets, but we can see some small mineral rights transfers with them listed as a ‘seller’. Most of these mineral rights transfers have been around the Elmworth/Wapiti area. Many wonder if and/or when Shell will emerge as an acquiror again for additional natural gas feedstock for LNG Canada, but it appears those people will have to wait for now.
Lastly, we can see the GIF below using BOE Intel, where we’ve turned on all AER licence transfers (red) and mineral rights transfers (yellow) where Shell was a ‘seller’ over the last two years. We’ve also turned on well spuds for Shell for that same period (in blue).
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