Breaking News

Tweet TWEET

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

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.

Investor inquiries John Charlton Investor Relations 403-237-4537

Media inquiries Pius Rolheiser Public Affairs 403-237-2710  

SOURCE: Imperial Oil Limited

To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/February2013/26/c8538.html

CO: Imperial Oil Limited
ST: Alberta
NI: OIL MNA 

-0- Feb/26/2013 19:40 GMT


 
Press spacebar to pause and continue. Press esc to stop.