Imperial said in January it would look to sell XTO Energy Canada as part of its strategy to focus on key oilsands assets.
The two companies each owned 50 per cent of XTO Energy Canada, which held the assets, while Imperial itself is majority owned by ExxonMobil.Imperial says the assets sold include almost 230,000 net hectares in the Montney shale and about 29,000 net hectares in the Duvernay shale, plus additional holdings in other areas of Alberta.
Whitecap says the acquisition will add the equivalent of about 32,000 barrels per day of production and over 2,000 drilling locations in the two fossil fuel plays.Story continues below advertisement Calgary-based Whitecap says the deal also includes a gas processing facility, and that integration of the acquired assets is already well underway.
Oil industry looks for federal funding to decarbonize oilsands – Aug 31, 2021
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Imperial, Exxon complete $1.9-billion sale of XTO Energy Canada to Whitecap ResourcesImperial Oil Ltd. and ExxonMobil Canada each owned 50 per cent of XTO Energy Canada. Read more.
Read more »
Imperial, Exxon complete $1.9-billion sale of XTO Energy Canada to Whitecap ResourcesImperial Oil Ltd. and ExxonMobil Canada each owned 50 per cent of XTO Energy Canada. Read more.
Read more »
Alberta to use $13B oil-fueled surplus on record debt cut - BNN BloombergAlberta will make the biggest single-year debt repayment in its history as surging oil prices boost revenue and generate a $13.2 billion budget surplus.
Read more »
OPEC+ panel tightens oil market outlook for this year and next - BNN BloombergThe OPEC+ coalition tightened its outlook for global oil markets this year and next as members struggle to reach output targets.
Read more »
Gold, silver pressured amid big drop in crude oil prices(Kitco News) - Gold and silver prices are lower in midday U.S. trading Tuesday, due in part to a drop of over $5.00 in Nymex crude oil futures prices (as of this writing).
Read more »