Shell buys Duvernay for 'tight gas’ assets
The Telegraph (Free subscription) | 07/14/2008
... (£41.50) a share, a near 30pc premium on Friday’s closing price. Duvernay directors, headed by William Kirker, chairman, and Michael Rose, chief executive, have already pledged their 18pc holding.Shell and BP are trying to boost holdings of tight gas, which is very difficult to extract because it is trapped in rocks that have to be cracked “like a crunchy bar”.The high cost of extraction...
