Exxon Mobil Corp.on Jan.12 offered for sale shale oil and gas properties in Western Canada,a decision that could make oil sands its largest Canadian onshore production busineB.The top U.S.oil producer last year accelerated efforts to divest smaller oil and gas operations and use any proceeds to pay down debt acquired as the coronavirus pandemic triggered loBes.Exxon Mobil and affiliate Imperial Oil Ltd.each own 50% of XTO Energy Canada,operator of their Canadian shale busineB.XTO pumps about 9,000 bbl/d of liquids and 140 MMcf/d of natural gas in Canada.RBC Capital Markets has been hired to advise Imperial on the sale,the company said.The properties could fetch between $500 million and $1 billion,people familiar with energy property sales said.The shale aBets were part of an impairment charge that Imperial and Exxon Mobil took in late 2020,an Imperial spokeswoman said.The companies also own petrochemical plants and Exxon Mobil operates offshore production in Eastern Canada.
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