Does Shell need Smokey DuvernayI think that shell answered that question in a recent well that they drilled in the Duvernay, a well with a laterial length of over 5000 meters. These are 3 million horizontial well and are the tip of the ice berg for things to come.
Durvernay is the Ultimate Prize
While POU is putting the final touches are Karr and Wapiti, Duvernay is the prize and Paramount has essentially the best land postion in the Duvernay, just like it has the best land positon in the Montney.
While other are rushing to exploit the one of a kind, unique resource which has taken more then a decade to understand, POU has played the waiting game. While is super major neighbors, Petro China, Shell, Chevron, XTO, Kuwiat Oil, and Murphy have poured Billions into understanding this play are, Paramount has patiently been pushing foward with the development of Karr and Wapiti while other have proved the economics of the Duvernay.
https://www.oilandgas360.com/duvernay-shale-deemed-largest-unconventional-oil-basin-canada-neb/ So the real value is play areas with running room for longer wells, and if you look at Shells land base they need POU land, to properly develop the resouce, but it will not come cheap.
So POU has a basket of derisked, high impact play areas and once Karr and Wapiti are developed they will exploit them at will.
POU is the cheapest OIL and Gas company on the planet but the bargin basement prices are close to the end.
IMHO