A 1,020-square-mile spread of Canadian drilling rights in the Montney and Duvernay formations of Western Canada went on the market by ExxonMobil affiliates Wednesday in the latest property sales launched by integrated major.
Seventy-percent owned Imperial Oil Ltd. and ExxonMobil Canada Ltd. are taking offers for their stakes in the parent company’s unconventional unit XTO Energy Inc.
The offers are part of ExxonMobil’s “ongoing evaluation of its unconventional portfolio, and is consistent with its strategy to focus upstream resources on key oilsands assets,” Imperial noted. “A definitive decision to sell the assets has not been made. Operations will continue as normal throughout the marketing process and should the process not result in a sale.
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