Exxon, Imperial Oil to promote Montney, Duvernay belongings in C$1.9B deal (NYSE:XOM)

Exxon Mobil (NYSE:XOM) and Imperial Oil (NYSE:IMO) stated on Tuesday they agreed to sell collectively owned XTO Vitality Canada to Whitecap Sources (OTCPK:SPGYF) for C$1.9B (~US$1.48B).

The belongings embrace 567K web acres within the Montney shale, 72K web acres within the Duvernay shale and extra acreage in different areas of Alberta.

Web manufacturing from the belongings 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 dividend will increase and share repurchases” and “a fantastic Canadian oil firm purchase,” Fluidsdoc writes in a bullish analysis published on Seeking Alpha.