Exxon, Imperial Pay $720M For Conoco Canadian Oil Field

Law360, New York (August 8, 2013, 1:20 PM EDT) -- ConocoPhillips Co. has agreed to sell its 226,000 acres in the Clyden oil sands leasehold in Alberta to ExxonMobil Corp.'s Canadian unit and Imperial Oil Ltd. for $720 million, adding to Exxon's already vast holdings in the Athabasca oil sands play, the companies announced Thursday.

ConocoPhillips will sell its entire interest in the Clyden play to ExxonMobil Canada and Imperial Oil, which is majority owned by Exxon. The Clyden acreage is in the southern portion of the Athabasca oil sands in Alberta, to the south of...
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