ExxonMobil makes US$3.1B bid for Celtic Exploration

摘要

ExxonMobil made a US$3.1 billion bid for Celtic Exploration, in a move to bolster the West Coast LNG export strategy, National Post reported. The bid appears to be Plan B after the company was unsuccessful in acquiring intermediate gas producer Progress Energy Resources, which Petronas plans to buy. "This acquisition will add significant liquid-rich resources to our existing unconventional portfolio," Andrew Barry, president of ExxonMobil Canada, said. "The acquisition will give the company a position in the Montney and Duvernay shales in British Columbia and Alberta. "Our financial and technical strength will enable us to maximize resource value by leveraging the experience of ExxonMobil XTO Energy, which has expertise in developing tight gas, shale oil and gas and coal bed methane."