CALGARY, May 1, 2014 /CNW/ - Imperial Oil Limited announced today the
successful completion of its previously announced sale of interests in
assets located in Boundary Lake, Cynthia/West Pembina, and Rocky
Mountain House in Western Canada to Whitecap Resources Inc. for CA $855
million. As a result of the sale, Imperial will record an after-tax
earnings gain of between $475 million and $525 million in the second
quarter of 2014.
Located in British Columbia and Alberta, these assets produced about
15,000 oil-equivalent barrels per day in 2013 on a net before royalty
basis. Production was split about evenly between oil and gas.
After more than a century, Imperial continues to be an industry leader
in applying technology and innovation to responsibly develop Canada's
energy resources. As Canada's largest petroleum refiner, a major
producer of crude oil and natural gas, a key petrochemical producer and
a leading fuels marketer from coast to coast, our company remains
committed to the highest standards across all areas of our business.
SOURCE: Imperial Oil Limited
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