ExxonMobil's Canadian associates to market shale belongings – Pure Fuel World

Imperial, ExxonMobil Canada to promote pursuits in Montney, Duvernay
Complimentary, Company, Mergers & Acquisitions, Information By Nation, Canada
ExxonMobil’s Canadian associates, Imperial and ExxonMobil Canada, mentioned January 12 they might collectively market their pursuits in XTO Power Canada.
Owned equally by the 2 associates of the US supermajor, XTO Power Canada’s belongings embody about 237,000 ha (586,000 acres) within the liquids-rich pure gasoline Montney shale fairway, 34,000 ha (85,000 acres) within the largely oil-prospective Duvernay shale fairway and extra lands elsewhere in Alberta.
Manufacturing from the belongings averages about 140mn ft3/day of pure gasoline and 9,000 b/d of crude oil, condensate and pure gasoline liquids.
Imperial mentioned the choice to promote the belongings was a part of its ongoing analysis of its unconventional portfolio and is in step with its technique to focus its upstream sources on key oil sands belongings.
Imperial is sort of 70% owned by ExxonMobil and is its fundamental Canadian affiliate, with standard and unconventional oil and gasoline manufacturing and refining, petrochemical and retail gas advertising operations. ExxonMobil Canada is wholly-owned by ExxonMobil and whereas it has some belongings in western and northern Canada other than XTO Power Canada, its major belongings are within the Hibernia and Hebron oilfields offshore Newfoundland and Labrador, on Canada’s east coast.
RBC Capital Markets has been retained by Imperial and ExxonMobil Canada as their unique monetary advisor in reference to the deliberate sale.
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