Updates on IMPERIAL OIL, ENCANA CORP. and TRANSCANADA CORP.

Article Excerpt

IMPERIAL OIL $40.16 (Toronto symbol IMO; Shares outstanding: 853.9 million; Market cap: $33.1 billion; TSINetwork Rating: Average; Dividend yield: 1.1%; www.imperialoil.ca) continues to work on its Kearl oil-sands project in northern Alberta. Imperial owns 71% of Kearl. ExxonMobil Corp. (New York symbol XOM) owns the remaining 29%. Exxon also owns 69.6% of Imperial. The company had to import some of the larger mining equipment it needs from South Korea. This gear is now in Idaho. Due to problems securing permits to truck this equipment to the Kearl site, Imperial and Exxon are now taking apart most of this equipment so it will fit on smaller trucks. Kearl is now 68% complete. When the first phase starts up in late 2012, it will add 78,100 barrels to Imperial’s daily production; in the latest quarter, the company produced 231,000 barrels of oil equivalent a day (including natural gas). Imperial’s share of Kearl’s output will jump to 245,000 barrels a day when the project reaches…