Oil & Gas Update: Shell Canada Ltd. Becomes Joint Venture...
In June of this year, Shell Canada Ltd. (“Shell”) announced that it had entered into an agreement with ConocoPhillips and Suncor Energy to become joint venture partners with respect to the exploration and development of Shell’s $1 billion offshore exploration project in the Shelburne Basin. Shell maintains a 50% interest in six exploration licenses that cover a contiguous area of 19,845 km2 located roughly 300 km off the coast of Nova Scotia and Shell remains the operator of the project.