Canadian Territory Hopes For Shale Oil Riches
From Reuters
A new oil prospect in Canada’s Northwest Territories could give the sparsely populated region a boost after years of costly delays in approving a big natural gas pipeline had frustrated economic hopes, a government official said on Thursday.
The Canol shale deposit near Norman Wells, in central Northwest Territories, has been the target of brisk bidding for drilling rights, David Ramsay, the territory”s minister of industry, tourism and investment said, with the value of work commitments by oil companies now at C$628 million ($623 million).
