Imperial Completes Sale of Certain Western Canada Conventional Oil and Gas Assets

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[{"type":"text","content":"\n\n\nCALGARY, May 1, 2014 /CNW/ - Imperial Oil Limited announced today the\n successful completion of its previously announced sale of interests in\n assets located in Boundary Lake, Cynthia/West Pembina, and Rocky\n Mountain House in Western Canada to Whitecap Resources Inc. for CA $855\n million. As a result of the sale, Imperial will record an after-tax\n earnings gain of between $475 million and $525 million in the second\n quarter of 2014.\n\n\nLocated in British Columbia and Alberta, these assets produced about\n 15,000 oil-equivalent barrels per day in 2013 on a net before royalty\n basis. Production was split about evenly between oil and gas.\n\n\nAfter more than a century, Imperial continues to be an industry leader\n in applying technology and innovation to responsibly develop Canada's\n energy resources. As Canada's largest petroleum refiner, a major\n producer of crude oil and natural gas, a key petrochemical producer and\n a leading fuels marketer from coast to coast, our company remains\n committed to the highest standards across all areas of our business.\n\n\nSOURCE Imperial Oil Limited\n\n\n\n John Charlton       Investor Relations      403-237-4537       Pius Rolheiser Public and Government Affairs 403-237-2710 Copyright CNW Group 2014","length":2039,"tagName":"div"}]

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