Canada's Imperial Oil to market XTO Energy interests

TAG Oil

12/01/2022 21:58

Jan 12 (Reuters) - Imperial Oil Ltd  IMO.TO  said on
Wednesday it plans to market its interests in XTO Energy Canada
jointly with Exxon Mobil Canada.
    Imperial and Exxon Mobil Canada each own 50% of XTO Energy
Canada, with assets that include 568,000 net acres in the
Montney shale, 85,000 net acres in the Duvernay shale and
additional acreage in other areas of Alberta.  urn:newsml:reuters.com:*:nBw1BHs5Xa
    Net production from these assets is about 140 million cubic
feet of natural gas per day and about 9,000 barrels of crude,
condensate and natural gas liquids per day, the company said in
a statement.
    Calgary-based Imperial, which is majority-owned by Exxon
Mobil  XOM.N , said the decision is part of the company's
ongoing evaluation of its unconventional portfolio, and is
consistent with its strategy to focus upstream resources on key
oil sands assets.
    Imperial added that a definitive decision to sell the assets
has not been made.

 (Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh
Kuber)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94
 ;))