Exxon to Buy Canadian Oil and Gas Company for $3.1 Billion

Posted by New York Times: Michael J. de La Merced on October 17th, 2012
New York Times: Exxon is buying more oil and gas assets in North America. In September, Exxon agreed to acquire Denbury Resources properties in the Bakken shale for $1.6 billion. Exxon Mobil agreed on Wednesday to buy Celtic Exploration for about $3.1 billion in cash and stock, as it sought to expand its presence in the energy-rich shale formations of western Canada. Under the terms of the deal, Exxon will pay about 24.50 Canadian dollars ($24.92) a share, 35 percent above Celtic`s closing price on Tuesday......

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