Deal insight

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

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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 contains

  • Document

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

    PDF 937.07 KB

Table of contents

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

Tables and charts

This report includes 4 images and tables including:

Images

  • Map showing Clyden lease and surrounding operators

Tables

  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Deal analysis: Table 1

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