8 August 2013
Details
ConocoPhillips
has entered into an agreement
to sell its 100 percent interest
in the Clyden oil sands to
Imperial Oil and ExxonMobil Canada
for approximately US $720 million (C$751)
comprising 226,000 net acres of undeveloped land.
Clyden is located near
the southern edge of the Athabasca oil sands and
south of Fort McMurray, Alberta, Canada.
Current status
- ConocoPhillips currently holds
approximately 1.1 million net acres of land
in the Athabasca Region of northeastern Alberta.
- The significant bitumen deposits on these lands
are estimated to contain
approximately 16 billion net barrels of resources,
making ConocoPhillips the holder of one of
the largest land and resource positions in the region.
Asset disposition program
- Including this transaction, ConocoPhillips has announced
expected proceeds of approximately $13.5 billion
from the sale of nonstrategic assets
as part of its
2012-13 asset disposition program.
- Through June 30,2013,
the company has received $3.8 billion
in proceeds from completed sales,
with the remainder expected by year-end 2013.
- These proceeds will be available for
general corporate purposes and allow the company
to advance existing growth programs.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
