The Imperial Oil logo is seen at the company’s annual meeting in Calgary, on April 28, 2017. Imperial Oil Ltd. says it and ExxonMobil Canada have closed the $1.9-billion sale of their oil and gas-producing assets in the Montney and Duvernay areas to Whitecap Resources Inc. THE CANADIAN PRESS/Jeff McIntosh
Jeff McIntosh

Imperial Oil Ltd. says it and ExxonMobil Canada have closed the $1.9-billion sale of their oil and gas-producing assets in the Montney and Duvernay areas to Whitecap Resources Inc.

The two companies each owned 50 per cent of XTO Energy Canada, which held the assets, while Imperial itself is majority owned by ExxonMobil.

Imperial says the assets sold include almost 230,000 net hectares in the Montney shale and about 29,000 net hectares in the Duvernay shale, plus additional holdings in other areas of Alberta.

Whitecap says the acquisition will add the equivalent of about 32,000 barrels per day of production (including condensate and natural gas liquids) and over 2,000 drilling locations in the two fossil fuel plays.

Calgary-based Whitecap says the deal also includes a gas processing facility, and that integration of the acquired assets is already well underway.

Imperial said in January it would look to sell XTO Energy Canada as part of its strategy to focus on key oilsands assets.

This report by The Canadian Press was first published Aug. 31, 2022

News from © The Canadian Press, 2022. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • 0062 TED_EPAC_Technology_30
    0062 TED_EPAC_Technology_30
  • 0061 SIMSA 2024 For Sask Buy Sask
    0061 SIMSA 2024 For Sask Buy Sask
  • 0060 Arizona Lithium Lease building
    0060 Arizona Lithium Lease building
  • 0059 Southeast College Heavy Equipment Operator
    0059 Southeast College Heavy Equipment Operator
  • 0058 Royal Helium Steveville opens anonymous rocket
    0058 Royal Helium Steveville opens anonymous rocket
  • 9002 Pipeline Online 30 sec EBEX
    9002 Pipeline Online 30 sec EBEX
  • 0055 Smart Power Be Smart with your Power office
    0055 Smart Power Be Smart with your Power office
  • 0015 Latus Viro
    0015 Latus Viro
  • 0052 Predator Inspections
    0052 Predator Inspections
  • 0051 JML Hiring Pumpjack assembly
    0051 JML Hiring Pumpjack assembly
  • 0049 Scotsburn Dental soft guitar
    0049 Scotsburn Dental soft guitar
  • 0046 City of Estevan This is Estevan
    0046 City of Estevan This is Estevan
  • 0041 DEEP Since 2018 now we are going to build
    0041 DEEP Since 2018 now we are going to build
  • 0032 IWS Summer hiring rock trailer music
  • 0022 Grimes winter hiring
  • 0021 OSY Rentals S8 Promo
  • 0018 IWS Hiring Royal Summer
  • 0013 Panther Drilling PO ad 03 top drive rigs
  • 0011
  • 0006 JK Junior
  • 9001
  • 0002

Alberta to use $13.2B budget windfall to pay down debt, put cash in piggy bank

Europe plan for floating gas terminals raises climate fears