Ann: Closing on $20M Duvernay Acreage Transaction, page-17

re: Ann: Closing on $20M Duvernay Acreage Tra...

"Norway’s largest oil and gas company by production Statoil said it would invest less in its North American shale gas properties, amid falling US natural gas prices, and focus increasingly on more profitable “tight oil”.
The shift is part of an industry trend, with Royal Dutch Shell also announcing last week that it would focus more on “liquid-rich shales” – shale rocks that contain high-value oil instead of, or as well as, gas. Other companies, too, have curbed gas output as the US boom in shale gas depresses prices."