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March 17, 2014
07:41 EDTIMOImperial Oil to sell certain Western Canada Conventional oil and gas assets
Imperial Oil 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 C$855M. 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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January 28, 2015
16:40 EDTIMOImperial Oil evaluating operating model for Esso stations
Imperial Oil Limited is evaluating the potential transition of its remaining company-owned Esso retail sites to a branded wholesaler operating model. Growth opportunities for the On the Run convenience store brand will also be evaluated. Under the branded wholesaler operating model, Imperial supplies fuel to independent third parties who own and/or operate the sites in alignment with Esso brand standards. The majority of Imperial's 1700 Esso-branded retail fuel sites in Canada operate under the branded wholesaler model. The remaining 500 sites are company-owned and will be part of this evaluation. This evaluation will include a non-binding bid process, which will begin in the coming weeks.
January 22, 2015
10:03 EDTIMOOn the Fly: Analyst Downgrade Summary
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07:41 EDTIMOImperial Oil downgraded to Neutral from Buy at Citigroup
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