Whitecap Drops $773M On Oil And Gas Assets From Imperial

Law360, New York (March 17, 2014, 1:52 PM EDT) -- Whitecap Resources Inc. is buying oil and gas assets in Western Canada from Imperial Oil Ltd. for CA$855 ($772.6 million), the companies said on Monday, in a deal Whitecap said will boost its production capabilities.

The deal is expected to close in May 2014. The assets, which are split evenly between oil and gas and are located in British Columbia and Alberta, produced about 15,000 oil-equivalent barrels per day last year.

According to a Monday statement on the transaction, the acquisition of Imperial's assets is expected...
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