Imperial Oil Plans Substantial Issuer Bid to Buy Up to C$1.5 Billion of Its Shares
27 Outubro 2023 - 9:50AM
Dow Jones News
By Robb M. Stewart
Imperial Oil plans to return cash to investors with the purchase
for cancellation of up to 1.5 billion Canadian dollars ($1.08
billion) of its shares.
Exxon Mobil, the Canadian oil company's majority shareholder,
will make a proportionate tender to maintain its stake in Imperial
Oil at just under 70% following the substantial issuer bid.
Imperial Oil expects the terms and pricing will be determined
and the offer launched during the next two weeks, and will be
completed before the end of the year.
The company completed an accelerated normal course issuer
program this month, which saw it return more than C$2.3 billion in
all to its shareholders.
Imperial Oil's production averaged 423,000 gross oil-equivalent
barrels a day in the third quarter, down from 430,000 barrels a day
in the same period last year. Adjusting for its sale of XTO Energy
Canada, which closed in the third quarter of 2022, the company said
its production increased by about 5,000 gross oil-equivalent
barrels a day.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
October 27, 2023 08:35 ET (12:35 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Imperial Oil (TSX:IMO)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Imperial Oil (TSX:IMO)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024
