Imperial Agrees to Sell Certain Western Canada Conventional Oil and Gas Assets
March 17 2014 - 6:40AM
PR Newswire (Canada)
CALGARY,
March 17, 2014 /CNW/ - Imperial Oil
Limited has reached an agreement to sell its interest in assets
located in Boundary Lake, Cynthia/West Pembina, and Rocky Mountain House in Western Canada to Whitecap Resources Inc. for
approximately CA$855 million. The transaction is expected to close
in May.
Located in British Columbia and
Alberta, the assets involved in
the transaction produced about 15,000 oil-equivalent barrels per
day in 2013 on a net before royalty basis. Production is split
evenly between oil and gas.
About Imperial Oil Ltd:
Imperial Oil is one of Canada's
largest corporations and a leading member of the country's
petroleum industry. The company is a major producer of crude oil
and natural gas, Canada's largest
petroleum refiner, a key petrochemical producer and a leading
marketer with coast-to-coast supply and service station
networks.
SOURCE Imperial Oil Limited
Copyright 2014 Canada NewsWire
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