Exxon Mobil Corp Acquires Celtic Exploration for $2.6 Billion
Investing News Network - October 17th, 2012
Exxon Mobil Corp Acquires Celtic Exploration for $2.6 Billion
The Calgary Herald reported that Exxon Mobil Corp (NYSE:XOM) announced that it has acquired Celtic Exploration Ltd (TSX:CLE) for C$2.6 Billion in an effort to increase its presence in Western Canada.
As quoted in the market report:
The deal, announced Wednesday, will give the world’s largest publicly traded energy company vast tracts in the liquids-rich Montney shale in the province of British Columbia, along with holdings in the Duvernay shale and other areas in the province of Alberta.