UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 11, 2016
IMPERIAL OIL LIMITED
(Exact name of registrant as specified in its charter)
Canada | 0-12014 | 98-0017682 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
505 Quarry Park Boulevard S.E., Calgary, Alberta | T2C 5N1 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (800) 567-3776
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 | Other Events. |
On March 11, 2016, the Company announced that it has filed regulatory applications for the Cold Lake Expansion project. A copy of the Companys news release is attached as Exhibit 99.1 to this report.
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. |
The following exhibit is furnished as part of this report on Form 8-K:
99.1 News release of the Company on March 11, 2016 announcing that it has filed regulatory applications for the Cold Lake Expansion project.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
IMPERIAL OIL LIMITED | ||||||
Date: March 11, 2016 | By: | /s/ Lara Pella | ||||
Name: | Lara Pella | |||||
Title: | Assistant General Counsel and Corporate Secretary | |||||
By: | /s/ Cathryn Walker | |||||
Name: | Cathryn Walker | |||||
Title: | Assistant Corporate Secretary |
Exhibit 99.1
Imperial files regulatory applications for Cold Lake Expansion project
● | In-situ project will use solvent-assisted, steam-assisted gravity drainage technology |
● | Technology designed to reduce greenhouse-gas emission intensity, water use |
● | Imperial has successfully piloted technology at Cold Lake since 2010 |
Calgary, March 11, 2016 Imperial today announced the filing of regulatory applications with the Alberta Energy Regulator to seek approval of a new in-situ oil-sands project on its Cold Lake lease area.
The proposed Cold Lake expansion project will use solvent-assisted, steam-assisted gravity drainage (SA-SAGD) technology to access a bitumen resource in the Grand Rapids formation with recoverable potential of approximately 550 million barrels of contingent resources, development pending, which is Imperials share before royalties.
Imperial has successfully piloted the SA-SAGD technology at its Cold Lake operation since 2010. Based on Imperials research and pilot results, it is expected that SA-SAGD will result in an approximately 25 percent reduction in greenhouse gas intensity compared with existing steam-assisted gravity drainage technology through lower energy input per barrel of bitumen recovered. A similar reduction in water use intensity is also expected.
If developed, the project is expected to produce about 50,000 barrels per day of bitumen, which is Imperials share before royalties. Subject to timely receipt of regulatory approvals and favorable business and market conditions, construction could start as early as 2019, with production commencing as early as 2022, as outlined in the application.
The Cold Lake expansion is one of a group of in-situ oil-sands opportunities Imperial is currently evaluating. Other potential developments include the Aspen, Corner and Clyden leases in northeast Alberta.
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FOR MORE INFORMATION, CONTACT:
Meredith Milne Investor Relations 587-476-4743 |
Lisa Schmidt Public and Government Affairs 587-476-7010 |
After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canadas energy resources. As Canadas largest petroleum refiner, a major producer of crude oil and natural gas, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.
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