The oil producer first indicated in March it is looking to sell or develop a partnership to develop its vast holdings in the Montney shale gas region. That means monetizing around a quarter of its holdings in the Graham Kobes area, which is rich in natural gas liquids.
CNRL is considering either outright selling the land, or entering a joint-venture with a partner with liquefied natural gas expertise.
The company reported a $213 million drop in first quarter income. So far it has not entered the race to export LNG from B.C.’s west coast.