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Imperial To Sell Certain Western Canada Conventional Oil & Gas Assets

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March 17, 2014

Imperial Oil Ltd. has reached an agreement to sell its interest in assets located in Boundary Lake, Cynthia/West Pembina, and Rocky Mountain House in Western Canada to Whitecap Resources Inc. for approximately CA$855 million. The transaction is expected to close in May.

Located in British Columbia and Alberta , the assets involved in the transaction produced about 15,000 oil-equivalent barrels per day in 2013 on a net before royalty basis. Production is split evenly between oil and gas.

Imperial Oil is based in Calgary. ...

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