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Exxon and Imperial acquire ConocoPhillips’ interest in the Clyden Oil Sands lease for US$720 million

Exxon and Imperial acquire ConocoPhillips’ interest in the Clyden Oil Sands lease for US$720 million

Report summary

On 8 August 2013, Imperial Oil and ExxonMobil announced an agreement to purchase a 100% interest in ConocoPhillips' solely owned Clyden oil sands lease, located approximately 150 kilometres south of Fort McMurray and immediately southwest of Statoil's Kai Kos Dehseh Leismer project. ConocoPhillips will receive consideration of US$720 million (Cdn$751 million) for the 226,000-acre, steam assisted gravity drainage (SAGD) prospective Clyden area. Under the terms of the agreement, ...

What's included?

This report includes 1 file(s)

  • Exxon and Imperial acquire ConocoPhillips’ interest in the Clyden Oil Sands lease for US$720 million PDF - 937.07 KB 5 Pages, 3 Tables, 1 Figures


The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
    • Deal flow in the oil sands expected to remain subdued
  • Upstream assets
  • Deal analysis
    • A multi-phased approach expected at Clyden
  • Strategic rationale
    • ConocoPhillips' oil sands portfolio remains stocked despite Clyden sale
    • Exxon/Imperial continues to strengthen its Canadian resource play portfolio
  • Oil & gas pricing and assumptions

In this report there are 4 tables or charts, including:

  • Executive summary
  • Upstream assets
    • Map showing Clyden lease and surrounding operators
  • Deal analysis
    • Deal analysis: Table 1
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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