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Imperial announces sale of interests in Montney and Duvernay assets

Imperial (TSE: IMO, NYSE American: IMO) today announced that together with ExxonMobil Canada, it has entered into an agreement with Whitecap Resources Inc. for the sale of XTO Energy Canada, which is jointly owned by Imperial and ExxonMobil Canada, for a total cash consideration of $1.9 billion ($940 million Imperial's share). The sale is expected to close before the end of the third quarter 2022, subject to regulatory approvals.

The sale completes the marketing effort announced in January 2022, and is consistent with Imperial's strategy to focus upstream resources on key oil sands assets and its commitment to deliver long-term value to shareholders.

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Imperial and E3 Lithium form strategic agreement on lithium pilot project in Alberta

  • Advances E3 Lithium's Clearwater Project with Imperial funding contribution
  • Pilot project progresses commercialization of battery-grade lithium from historic Leduc field for electric vehicles and energy storage
  • Imperial to provide technical and development support

 Imperial Oil Limited (TSE: IMO) (NYSE American: IMO) and E3 Lithium (TSXV: ETMC) (OTCQX: EEMMF) announced today a collaboration to advance a lithium-extraction pilot in Alberta exploring the redevelopment of an historic oil field into a potential new leading source of lithium for Canada's growing critical minerals industry.

The pilot will support E3 Lithium's Clearwater project, which will draw lithium from under the Leduc oil field, Imperial's historic discovery that first launched major oil and gas development in Western Canada . E3 Lithium's proprietary technology is designed to extract the critical mineral from the lithium-rich brine, with potential for commercial development of battery-grade products.

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Imperial announces completion of its $2.5 billion substantial issuer bid

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has taken up and paid for 32,467,532 common shares ("Shares") at a price of $77.00 per Share (the "Purchase Price") under Imperial's offer (the "Offer") to purchase for cancellation up to $2.5 billion of its Shares. All amounts are in Canadian dollars.

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