IMPERIAL OIL $42.44 (Toronto symbol IMO; Shares outstanding: 847.6 million; Market cap: $35.0 billion; TSINetwork Rating: Average; Dividend yield: 1.4%; www.imperialoil.ca) is considering the sale of its Norman Wells facility in the Northwest Territories.
The company first discovered oil at this site, about 150 kilometres south of the Arctic Circle, in 1920. The site is the most northerly producing oilfield in Canada. Drilling is conducted from six artificially constructed islands on the Mackenzie River.
Imperial Oil currently produces 11,000 barrels a day. That’s equal to 3% of its total production of 329,000 barrels a day for the second quarter of 2016.
The company would likely apply the cash from a sale to its larger operations in Alberta such as its Kearl oil sands project.
Imperial Oil is a buy. buy…
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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