ConocoPhillips said it will sell its interest in Alberta's Clyden oil sands leasehold to Imperial Oil Ltd and ExxonMobil Corp's Canadian unit for about $720 million. The leasehold is located near the southern edge of the Athabasca oil sands and south of Fort McMurray, Alberta and comprises 226,000 net acres of undeveloped land.ConocoPhillips, the largest independent U.S. exploration and production company, expects to record a related after-tax gain of about $450 million.Imperial is controlled by Exxon.
Athabasca Oil Corporation, formerly Athabasca Oil Sands Corp. Shares of ATH traded higher by 10.18% or $0.75/share to $8.12. In the past year, the shares have traded as low as $5.59 and as high as $14.05. On average, 1496530 shares of ATH.TO exchange hands on a given day and today's volume is recorded at 6782519.
ConocoPhillips explores for, produces, transports and markets crude oil, natural gas, natural gas liquids, liquefied natural gas and bitumen on a worldwide basis. Shares of COP remained unchanged at $66.52. In the past year, the shares have traded as low as $53.95 and as high as $67.47. On average, 6408490 shares of COP exchange hands on a given day and today's volume is recorded at 0.
Imperial Oil Limited (Imperial) is an integrated oil company. Shares of IMO remained unchanged at $40.31. In the past year, the shares have traded as low as $37.09 and as high as $50.00. On average, 234260 shares of IMO exchange hands on a given day and today's volume is recorded at 0.
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