Imperial places Montney, Duvernay assets on the market

Imperial Oil Ltd. says it intends to market its more than 260,000 hectares of assets in the Montney and Duvernay oil and gas-producing areas of central Alberta.

The Calgary-based company says it will market its interests in XTO Energy Canada jointly with ExxonMobil Canada.

Imperial and ExxonMobil Canada each own 50 per cent of XTO Energy Canada, which includes assets in the liquids-rich Montney and Duvernay resource plays.

The assets to be marketed include 227,200 net hectares in the Montney shale, 34,000 net hectares in the Duvernay shale and additional holdings in other areas of Alberta.

Net production from these assets is about 140 million cubic feet of natural gas per day and about 9,000 barrels of crude, condensate and natural gas liquids per day.

Imperial says the decision is part of its ongoing evaluation of its unconventional portfolio, and its strategy to focus on key oil sands assets. It says a definitive decision to sell the assets has not been made.

(Canadian Press)