secwatch.observer — SEC 8-K summary
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Issuer:     IMPERIAL OIL LTD (IMO)
CIK:        0000049938
Form:       8-K
Filed at:   2024-11-01T23:59:59+00:00
Accession:  0000049938-24-000062
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Imperial Oil Q3 net income $1.237B ($2.33/sh); upstream production record highest in 30+ years
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- Net income of $1,237M vs $1,601M in Q3 2023; EPS $2.33 diluted, down from $2.76.
- Upstream production 447k boe/d (highest Q3 in 30+ yrs); Kearl 295k boe/d matches record; Cold Lake 147k boe/d with Grand Rapids averaging 20k boe/d in Sept.
- Downstream throughput 389k bpd at 90% utilization; Nanticoke and Strathcona turnarounds completed ahead of plan and below budget.
- Returned $1,528M to shareholders: $322M dividends + $1,206M accelerated share repurchases; Q4 dividend declared $0.60/sh.
- Grand Rapids (first commercial solvent-assisted SAGD) ramping strong; Leming SAGD redevelopment startup expected in 2025 at ~9k bpd.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49938/000004993824000062/0000049938-24-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49938/000004993824000062/imo-20241101.htm
  HTML page:      https://secwatch.observer/filing/0000049938-24-000062

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