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

  • 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

For further information:

Investor inquiries    
John Charlton
Investor Relations
403-237-4537  

Media inquiries
Pius Rolheiser
Public Affairs
403-237-2710


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.