Imperial Oil Ltd , Canada's No.3 oil and gas company, said on Monday Whitecap Resources Inc has agreed to purchase some of its oil and gas properties in Western Canada for about C$855 million ($771.14 million) as it focuses on its oil sands and shale properties in the region.Imperial Oil, 69.6 percent owned by Exxon Mobil Corp , said the properties in British Columbia and Alberta had produced about 15,000 barrel of oil equivalent per day in 2013.Imperial is in the midst of expanding its Kearl and Cold Lake oil sands projects and seeking regulatory approval for the C$7 billion Aspen oil sands project. The company also operates in several of Western Canada's shale-petroleum regions and often sells properties it no longer considers central to its operations."It's our long standing practice to continually review assets for their contribution to meeting strategic, operational and financial objectives," said Leanne Dohy, a spokeswoman for the Calgary-based company.
Imperial Oil Limited (Imperial) is an integrated oil company. Shares of IMO traded higher by 0.22% or $0.1/share to $46.05. In the past year, the shares have traded as low as $37.09 and as high as $46.72. On average, 246464 shares of IMO exchange hands on a given day and today's volume is recorded at 98632.
Exxon Mobil Corporation is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. Shares of XOM traded higher by 0.48% or $0.45/share to $93.92. In the past year, the shares have traded as low as $84.79 and as high as $101.74. On average, 12793300 shares of XOM exchange hands on a given day and today's volume is recorded at 2706548.
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