March 9, 2017 / 7:23 AM / 7 months ago

BRIEF-Shell divests oil sands for net consideration of $7.25 bln

March 9 (Reuters) - Shell

* Royal dutch shell: divests oil sands for net consideration of $7.25 billion

* Shell will remain as operator of AOSP’s scotford upgrader and quest carbon capture and storage (ccs) project

* Combination of these transactions will result in a net consideration of $7.25 billion to shell

* to sell to canadian natural resources unit 60 percent interest in AOSP, 100 percent interest in peace river complex in-situ assets

* will sell all of its in-situ, undeveloped oil sands interests in canada, reduce share in Athabasca Oil Sands Project from 60 percent to 10 percent

* will sell to a subsidiary of Canadian Natural Resources Limited its entire 60 percent interest in AOSP

* Will sell to unit of canadian natural resources its 100 percent interest in peace river complex in-situ assets, some undeveloped oil sands leases in alberta

* consideration to Shell from canadian natural is approximately $8.5 billion (c$11.1 billion)

* Co, Canadian Natural will jointly acquire, own equally Marathon Oil Canada corp from affiliate of Marathon Oil corporation for $1.25 billion each Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below