ConocoPhillips pays US$380M to Kelt Exploration for Canadian Montney acreage in stranded gas area

Friday, 24 July 2020

US major ConocoPhillips has agreed to acquire additional acreage in the Montney Shale in northeast British Columbia held by Kelt Exploration (LNG) Ltd. of Calgary for C$510 million (US$380M) in cash, giving a current valuation in a prolific oil and natural gas area that was once a centre of multiple plans for LNG exports.

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