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Shell, Pieridae to try again after Alberta regulator blocks license transfers

Shell, Pieridae to try again after Alberta regulator blocks license transfers

May 15, 2020 4:58 PM ET|About: Royal Dutch Shell plc (RDS.A)|By: , SA News Editor

  • A controversial license transfer deal between Royal Dutch Shell (RDS.A, RDS.B) and Pieridae Energy (OTC:PTOAF) over aging assets in Alberta that failed to win approval from the province’s energy regulator say they will try again.
  • The regulator yesterday refused to allow licenses for sour gas wells, pipelines and other facilities to be transferred to Pieridae Energy from Shell Canada, saying the deal appeared to reduce Shell’s responsibility for cleaning up the sites, adding that the extent of contamination at the hundreds of facilities is unknown.
  • Shell says it will look for a way to transfer the licenses to Pieridae and keep the cleanup liabilities.
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