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Sasol Announces Second Shale Deal in Western Canada

10:00 AM MST | March 8, 2011 | Lindsey Bewley

Sasol says it will acquire a 50% interest in the Cypress A assets from Talisman Energy’s (Calgary, AB) Cypress A assets at the Montney shale play in British Columbia for C1.05 billion ($1.03 billion). The deal is Sasol’s second shale acquisition in North America, and is expected to close in the third-quarter of 2011.   The deal includes 57,000 acres of land covered by Cypress A with an estimated contingent resource of 11.2 trillion cubic feet (tcf). Upon closing of the deal, Sasol will hold an estimated aggregate 10.4 tcf of contingent...

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