Imperial, Exxon create Arctic buzz

Make unprecedented bid for 508,000-acre Beaufort Sea exploration block, but won’t say what they have in mind other than insisting it’s ‘separate and independent’ from Mackenzie gas line

Gary Park

For Petroleum News

In straight dollar terms, it’s a breathtaking vote of confidence in the oil and gas future of the Canadian Arctic. Even a federal official who manages Canada’s northern bidding process was caught off guard. Richard Casey, with Indian and Northern Affairs Canada, said the joint bid by Imperial Oil an....

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Exxon: too soon too explain

Companies have five years to spend C$146.2 million

Only one recent Canadian Beaufort well

Analyst suggests target could be oil