The acquisition of drilling rights in thousands of acres in British Columbia by one of the world’s biggest companies is a testament to its potential, Calima Energy said. Conoco Phillips announced last week it spent $120 million to acquire 35,000 net acres in the Montney shale play in British Columbia, bringing its net total to 140,000 acres. Exploration and appraisal activity would be supported by what’s already in the company’s budget. Matt Fox, an exploration leader at Conoco, said in a statement the Canadian acreage supports the company’s “low cost of supply resource base without requiring significant near-term capital commitments.” Calima Energy, an Australian company, said Conoco’s acquisition is close to its Canadian acreage and the commitment came even without […]