Exxon Mobil (NYSE:XOM) and Imperial Oil (NYSE:IMO) mentioned on Tuesday they agreed to sell collectively owned XTO Vitality Canada to Whitecap Assets (OTCPK:SPGYF) for C$1.9B (~US$1.48B).
The property embody 567K internet acres within the Montney shale, 72K internet acres within the Duvernay shale and extra acreage in different areas of Alberta.
Web manufacturing from the property is 140M cf/day of pure gasoline and 9K bbl/day of crude, condensate and pure gasoline liquids.
Whitecap (OTCPK:SPGYF) additionally accepted a 22% improve to its month-to-month dividend to C$0.0367/share.
Imperial Oil (IMO) is “aggressive in returning capital to shareholders by way of dividend will increase and share repurchases” and “an ideal Canadian oil firm purchase,” Fluidsdoc writes in a bullish analysis published on Seeking Alpha.