Oilpatch wondering how Royal Dutch Shell will realize potential of new lands

It’s the $465-million question: What energy potential does Royal Dutch Shell (NYSE:RDS.A) see in a remote chunk of Northern Alberta’s wilderness that no one else does?

One day after the European-based oil and gas giant revealed that it had spent close to half a billion dollars for nearly 900 square kilometres in the middle of nowhere, the Canadian oilpatch was still trying to figure out why.

“It’s a lot of money for an area that hasn’t shown that kind of promise through other wells or projects or pilots or what have you,” said Tom Ebbern an energy analyst with Calgary-based Tristone Capital.

CBC