Oil sands mystery solved

An intriguing mystery in the Canadian oil-patch was solved Tuesday when global energy giant Royal Dutch Shell admitted to being behind the $465-million purchase of nearly 900 square kilometres of northern Alberta wilderness.

But Royal Dutch Shell’s bold move into the Canadian oil sands gives rise to many new questions about the European-based super-major’s plans for the sector, where it already has a significant presence through sister company Shell Canada.

..And the acquisition left many in the industry wondering who was bold enough to bet nearly half a billion dollars on lands far removed from producing oil sands regions in an area where very little drilling has been done to size up the resource.

Globe and Mail