Nexen is to enter a strategic partnership with a consortium led by Japanese firm Inpex to develop shale gas assets in Horn River and the Cordova and Liard basins in north-east British Columbia, Canada.
The firm will sell a 40% working interest in the assets for a total value of $700m and will remain their operator.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Horn River and the Cordova basin are estimated to contain 4-15tcf of recoverable contingent resource, while the Liard basin contains 5-23tcf of prospective resources.
The partnership will proceed with the appraisal and development of the resource, depending on economic conditions, and will jointly investigate the feasibility of a potential downstream project including LNG exports.
