ConocoPhillips said it would sell its interest in an oil sands leasehold in Canada for about $720 million as part of its plan to restructure its assets and hive off its stake in six Alberta properties.The company will sell the Clyden asset, located near the southern edge of the Athabasca oil sands and south of Fort McMurray, Alberta to Exxon Mobil Corp's Canadian unit and Imperial Oil Ltd, which is controlled by Exxon.Exxon Canada will purchase a 72.5 percent interest in the leasehold, with Imperial acquiring the rest.Conoco expects to record a after-tax gain of about $450 million from the sale.
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 1300.
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.
Exxon Mobil Corporation (Exxon Mobil) is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. Shares of XOM remained unchanged at $91.34. In the past year, the shares have traded as low as $84.70 and as high as $95.49. On average, 12754700 shares of XOM exchange hands on a given day and today's volume is recorded at 0.
Source
