ExxonMobil Completes Acquisition of Celtic Exploration

Celtic Exploration Ltd. said Tuesday that Exxon Mobil Corp.'s 2.59 billion Canadian dollar ($2.52 billion) acquisition of Celtic has closed and that its shares will be delisted from the Toronto Stock Exchange.

Exxon first announced the planned purchase of the Calgary, Alberta-based energy company in October. The Canadian government approved the deal last week.

Celtic's output and proved reserves are heavily weighted towards natural gas. The transaction, which totals about C$3.1 billion including debt considerations, is Exxon's largest since it bought XTO Energy in 2010.

Separately, Exxon's Imperial Oil Ltd. subsidiary said it acquired a 50% participating interest in Celtic following the completion of the transaction.

Copyright (c) 2012 Dow Jones & Company, Inc.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
United States Houston: Marketing Specialist
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
 
Intelligence & Risk Assessment Analyst
Expertise: Legal|Risk Management
Location: San Ramon, CA
 
Land GIS Spatial Analyst - Mineral Land
Expertise: Contracts Engineer|Geologist|Lease Analyst
Location: Denver, CO
 
search for more jobs

Brent Crude Oil : $48.06/BBL 2.51%
Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
Updated in last 24 hours