Home Page
22:05:33 EDT Tue 02 Sep 2014
Enter Symbol
or Name
USA
CA



IMPERIAL OIL LTD
Symbol U : IMO
Recent Sedar Documents

Imperial acquires 50-percent participating interest in Celtic Exploration following its acquisition by ExxonMobil Canada

2013-02-26 14:40 ET - News Release

Imperial acquires 50-percent participating interest in Celtic Exploration following its acquisition by ExxonMobil Canada

Canada NewsWire

  • Imperial has acquired a 50-percent participating interest in the Celtic Exploration acquisition by ExxonMobil Canada
  • New operation will benefit from the combined expertise of ExxonMobil, XTO Energy and Imperial Oil in unconventional resource development

CALGARY, Feb. 26, 2013 /CNW/ - Imperial Oil has acquired a 50-percent participating interest in Celtic Exploration Ltd. ("Celtic") following the close of its acquisition by ExxonMobil Canada today. This occurred by means of a sale of a 50-percent interest in Celtic's assets and liabilities from ExxonMobil Canada to Imperial Oil, which represents about a $1.6 billion investment by Imperial Oil.

ExxonMobil Canada acquired Celtic after receiving final approval from Canadian regulatory authorities last week. Celtic's shareholders had previously approved the transaction in a meeting on December 14, 2012.

The technical expertise and financial strength of Imperial, ExxonMobil and XTO Energy Inc., a subsidiary of ExxonMobil, will enable the responsible development of the energy contained in the acquired unconventional, liquids rich acreage.

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

Contact:

<p> </p> <p> <b>Investor inquiries    </b><br/> John Charlton<br/> Investor Relations<br/> 403-237-4537   </p> <p> <b>Media inquiries</b><br/> Pius Rolheiser<br/> Public Affairs<br/> 403-237-2710<br/> <br/> </p>

© 2014 Canjex Publishing Ltd. All rights reserved.