CALGARY, Alberta Nov 13 Murphy Oil Corp
on Tuesday agreed to buy Royal Dutch Shell Plc's
interest in oil properties in the Seal Lake region of northern
Alberta for an undisclosed price as the company looks to sell
high-profile assets in Canada.
Murphy said the acquisition will add 2,200 barrels of oil
equivalent per day from 14 million barrels of reserves and
include nearly 150,000 acres of exploration lands.
The agreement will see Murphy boost its production in the
Seal Lake heavy oil region to over 9,000 boepd and boost its
land holdings to 331,000 acres.
The agreement comes despite the El Dorado, Arkansas-based
company's decision last month to consider the sale its 5 percent
stake in the Syncrude Canada Ltd oil sand project and its
natural gas assets in the prolific Montney shale field of
northeastern British Columbia.