One-Page Deal Sheet
Conoco to Divest Clyden Oil Sands Lease
ExxonMobil, Imperial Oil Resources Ltd. ConocoPhillips
Announced Date
August 08,2013
Close Date
August 16,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
720
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production & Reserves Reserves
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
ConocoPhillips has entered into an agreement to sell its 100 percent interest in the Clyden oil sands leasehold to Imperial Oil and ExxonMobil Canada for approximately $720 million (C$751 million) before customary adjustments.
Comprising 226,000 net acres of undeveloped land, Clyden is located near the southern edge of the Athabasca oil sands and south of Fort McMurray, Alberta.
Don Wallette, Executive VP, Commercial, Business Development and Corporate Planning for Conoco, commented: "This transaction is a significant step toward rebalancing our world-class oil sands portfolio. We are pleased…
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