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Shell eyes investments in Alberta’s shale plays as oilsands turn into ‘cash engine, not a growth engine’

Jesse Snyder | February 2, 2017 7:49 PM ET

Royal Dutch Shell Plc said Thursday it will reduce capital expenditures in 2017 for the third straight year, while also outlining plans to boost production at one of its light oil assets in southern Alberta.

During a quarterly conference call with analysts, the Netherlands-based company laid out plans to invest in its liquids-rich Fox Creek, Alta., assets as part of a broader US$2-to- $3-billion strategy targeting its highest-return shale plays.

Henry pointed to Fox Creek as one of its top-three shale assets within its global portfolio, in terms of near-term growth, along with the Permian basin in Texas and Louisiana and Argentina’s Vaca Muerta shale.

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