Imperial to sell certain Western Canada oil and gas assets

Imperial Oil Ltd.

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 (US$768 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.

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