It is considering either outright selling the land, or entering a joint-venture with a partner with liquefied natural gas expertise. In a conference call, President Steve Laut admitted the company has shied away from joint-ventures in the past.
"However, in this situation, when we look at the size of our Montney land base and balancing our capital allocation going forward, combined with the strong demand that we see for this type of high quality asset, plus the fact that Graham Kobes is somewhat removed from our core Montney asset base, it is prudent to monetize a portion of our Montney asset base at this time," he said.
CNRL, which controls over 400,000 hectares of land in the Montney region, reported a 58 per cent drop in fourth quarter profits. So far it has not entered the race to export LNG from B.C.'s west coast.
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