Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 28

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1
Chunk 28
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b)Gross production is the company’s share of production (excluding purchases) before deduction of the mineral owners’ or governments’ share or both. (c)Net production is gross production less the mineral owners’ or governments’ share or both. (d)The company’s synthetic crude oil production volumes were from the company’s share of production volumes in the Syncrude joint venture and include immaterial amounts of bitumen and other products exported to the operator's facilities using an existing interconnect pipeline.(e)Liquids include crude oil, condensate and NGLs. 

Average daily production and production available for sale of natural gas 

The company’s average daily production and production available for sale of natural gas during the three years ended December 31, 2024 are set forth below. All reported production volumes were from Canada and are calculated at a pressure base of 14.73 pounds per square inch absolute at 60 degrees Fahrenheit. 

millions of cubic feet per day (a)2024 2023 2022 Gross production (b) (c)30 33 85 Net production (c) (d) (e)30 32 83 Net production available for sale (f)9 11 50 (a)Volume per day metrics are calculated by dividing the volume for the period by the number of calendar days in the period. (b)Gross production is the company’s share of production (excluding purchases) before deduction of the mineral owners’ or governments’ share or both. (c)Production of natural gas includes amounts used for internal consumption with the exception of the amounts reinjected. (d)Net production is gross production less the mineral owners’ or governments’ share or both. (e)Net production reported in the above table is consistent with production quantities in the net proved reserves disclosure. (f)Includes sales of the company’s share of net production and excludes amounts used for internal consumption.

9

Total average daily oil-equivalent basis production 

The company’s total average daily production expressed in an oil-equivalent basis is set forth below, with natural gas converted to an oil-equivalent basis at six million cubic feet per one thousand barrels. 

thousands of barrels per day (a)2024 2023 2022 Total production oil-equivalent basis:–gross (b)433 413 416 –net (c)371 360 349 (a)Volume per day metrics are calculated by dividing the volume for the period by