Integrated Canadian major and ExxonMobil affiliate: flagship Kearl oil sands mine (operated, ~71%), Cold Lake in-situ, and ~25% non-operated Syncrude; three refineries (Strathcona, Sarnia, Nanticoke) plus Esso/Mobil retail; leverages shared ExxonMobil technology.
Fortress balance sheet with near-zero net leverage and sector-leading shareholder returns via a growing dividend and large buybacks/SIBs; ExxonMobil holds ~69.6%. Flags: very limited free float, Canadian oil sands concentration, carbon/emissions policy.
Its EV/EBITDA of 11.0x is above the 5.9x median across the 142-company universe, the free-cash-flow yield of 6.5% is lower than the 6.5% median, and at $27.75/boe of proved reserves it is richer than the $13.51/boe median.
On a balanced screen across the universe, Imperial Oil scores 52/100, strongest on safety (83/100). Sub-scores: value 27, quality 63, growth 32, risk 17 (higher = riskier).
Imperial Oil holds approximately 2.04 billion boe of proved (1P) reserves with FY2025 production of about 438 thousand boe/d (97% liquids), a reserve life of roughly 12.7 years. Break-even: ~$40/bbl (WTI breakeven) — Long-life oil sands (Kearl, Cold Lake) plus integrated refining; strong downstream returns give a competitive corporate breakeven.
For Imperial Oil, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| Canada | 100% | 8 | Stable; pipeline egress constraints, oil-sands emissions policy. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Kearl | Canada | Oil sands mining | Operated (~71%); flagship mine, boosting output/reliability |
| Cold Lake | Canada | Oil sands (in-situ) | Cyclic steam + Grand Rapids/Leming SAGD expansion |
| Syncrude | Canada | Oil sands mining | ~25% stake (Suncor-operated) |
| Strathcona refinery + Renewable Diesel | Canada | Downstream | Refinery + Canada's largest renewable diesel facility |
| Sarnia & Nanticoke refineries | Canada | Downstream | Ontario refining |
| Esso / Mobil retail | Canada | Marketing | Fuels retail network |
| Grand Rapids (Cold Lake) | Canada | Oil sands (SAGD) | New in-situ technology project |
| Chemicals (Sarnia) | Canada | Petrochemicals | Small chemical operations |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 428 | 402 | 424 | 447 | 438 |
| Proved reserves (bnboe) | 2.80 | 2.90 | 2.90 | 2.90 | 2.04 |
| Revenue ($bn) | 29.0 | 44.0 | 38.0 | 37.0 | 34.2 |
| EBITDA ($bn) | 4.5 | 9.5 | 7.5 | 7.0 | 5.1 |
| Net income ($bn) | 1.8 | 5.7 | 3.6 | 3.5 | 2.4 |
| Free cash flow ($bn) | 2.5 | 5.5 | 3.0 | 3.3 | 3.5 |
Enter your email and we'll open a print-ready one-page tearsheet for Imperial Oil — and add you to the monthly oil & gas valuation screen.
✓ FY2025 figures verified against primary sources: