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Pieridae Energy closes acquisition of Shell's Foothills assets

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Oilfield Technology,

Pieridae Energy has announced that it has completed its acquisition of Shell Canada's Foothills assets, including the Jumping Pound, Caroline and Waterton gas plants, 29 000 boe/d of production, a partial ownership of the Shantz sulfur plant and 1700 km of pipelines.

The acquisition gives the company the majority of the natural gas needed to supply the first facility (or train) at the Goldboro LNG facility in Nova Scotia, Canada.

The company will now work with KBR to develop a fixed price contract and designs to build Goldboro, then proceed to complete project financing and make a final investment decision.

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