Key Developments: Exxon Mobil Corp (XOM)
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17 May 2013
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Latest Key Developments (Source: Significant Developments)
Exxon Mobil Corp, OMV Petrom SA And Societatea Nationala de Transport Gaze Naturale Transgaz SA Could Set Up Joint Venture for Operations in Black Sea-AGERPRES
AGERPRES reported that Exxon Mobil Corp, OMV Petrom SA and Societatea Nationala de Transport Gaze Naturale Transgaz SA could set up a joint venture to exploit resources in the Black Sea, authorities following to promote a law concerning operations in this area, Minister delegate for Economy, Mr. Constantin Nita, stated. Further details were not disclosed. Full Article
Exxon Mobil Corp Declares Second Quarter Dividend
Exxon Mobil Corp announced that it has declared a cash dividend of 63 cents per share on the Common Stock, payable on June 10, 2013 to shareholders of record of Common Stock at the close of business on May 13, 2013. Full Article
BNK Petroleum Inc Announces Closing Of Sale Of Woodford Assets To Exxon Mobil Corporation's XTO Energy Inc
BNK Petroleum Inc announced sale by indirect wholly owned subsidiary BNK Petroleum (US) Inc. to XTO Energy Inc., a subsidiary of Exxon Mobil Corporation, of Tishomingo Field, Oklahoma assets other than the Caney and upper Sycamore formations, for USD147.5 million has been closed. Full Article
Jury Finds Exxon Mobil Corp Liable For $236.4 Million In U.S. Pollution Suit-Reuters
Reuters reported that Exxon Mobil Corp a New Hampshire jury on Tuesday found Exxon Mobil Corp liable for $236.4 million in a civil lawsuit that charged the oil company had polluted groundwater in the state with a gasoline additive used to reduce smog in the 1970s and 1980s. Following a three month trial, jurors deliberated less than two hours before finding that the oil company acted negligently in contaminating the groundwater with the additive MTBE. Originally filed in New Hampshire court in 2003, the state charged that Exxon and other major oil companies knew that MTBE was likely to contaminate groundwater and was more difficult to clean up than other pollutants. Some damages from the suit will help pay for the costs of testing and cleaning affected water supplies. Exxon vowed to appeal. Full Article
CenterPoint Energy Inc's CenterPoint Energy Bakken Crude Services, LLC Signs Long-Term Agreement With Exxon Mobil Corp's XTO Energy Inc
CenterPoint Energy Inc's indirect wholly owned subsidiary CenterPoint Energy Bakken Crude Services, LLC, announced it has entered into a long-term agreement with XTO Energy Inc., a subsidiary of Exxon Mobil Corporation, to gather XTO's crude oil production through a new crude oil gathering and transportation pipeline system in North Dakota's liquids-rich Bakken shale. The agreement with XTO is the first agreement entered into pursuant to the open season announced by CEBCS on February 19. Under the terms of this new agreement, which includes volume commitments, CEBCS will provide service to XTO over a gathering system to be constructed in Dunn and McKenzie counties, North Dakota. Full Article
Exxon Mobil Corp, BHP Billiton Ltd Plans Floating LNG Plant Off Australia-Reuters
Reuters reported that Exxon Mobil Corp and BHP Billiton Ltd are planning to build the floating liquefied natural gas (LNG) vessel in offshore northwestern Australia. The vessel would produce 6 million tonnes to 7 million tonnes per annum (mtpa) of LNG from Australia's Scarborough field, about 220 kilometres (137 miles) from the Western Australian coast, beginning in 2020-2021. Exxon and BHP, which are 50-50 joint venture partners in the Scarborough development, expect to make a final investment on the plant in 2014-2015, Exxon said in the filing. It did not give any cost estimates for the plant. Full Article
Anadarko Petroleum Corp Has Talked With Exxon Mobil Corp, Royal Dutch Shell PLC About Mozambique Gas Stake-DJ
Dow Jones reported that Anadarko Petroleum Corp has held early-stage talks with energy companies Exxon Mobil Corp and Royal Dutch Shell PLC about selling a share of the U.S. oil firm's massive natural gas discoveries off the coast of Mozambique. The discovery of trillions of cubic feet of natural gas offshore Mozambique by Anadarko and Italy's Eni SpA has piqued the interest of some of energy companies, which are keen to get a foothold in an area well placed to serve energy-hungry Asian export markets. Anadarko, an oil and gas exploration company based outside Houston, has said it wants to sell up to 10% of its share of the energy trove. Full Article
Exxon Mobil Corp Starts Production From Telok Gas Field
Exxon Mobil Corp announced that it has started production from the Telok natural gas field, located offshore Malaysia in the South China Sea. The Telok A platform is the first phase of the Telok natural gas project, which when completed will consist of two four-legged unmanned gas satellite platforms. Full well stream gas will be produced via a new 16-mile pipeline to the existing Guntong E platform for processing. A total of 14 development wells are planned for the Telok A and B platforms. Full Article
NK Rosneft' OAO's Neftegaz America Shelf LP Acquires 30% in ExxonMobil Corp's Project in Gulf of Mexico-Interfax
Interfax reported that Neftegaz America Shelf LP (Neftegaz), an indirect independent subsidiary of NK Rosneft OAO (Rosneft), has acquired 30% interest in 20 deep water exploration blocks in the Gulf of Mexico held by ExxonMobil Corporation, under an agreement signed by the two companies. The 20 blocks have a total area of approximately 111,600 acres (450 square kilometers) in water depths ranging between 2,100 and 6,800 feet (640 and 2,070 meters). Seventeen are located in the Western Gulf of Mexico and three are in the Central Gulf of Mexico. ExxonMobil Corp retains 70% interest in the blocks and remains operator. Analysis of seismic data is under way. There is currently no production on the blocks. The Company and ExxonMobil Corp continue to implement the Strategic Cooperation Agreement signed in 2011, under which the companies and their subsidiaries plan to undertake joint exploration and development of hydrocarbon resources in Russia and other countries and to share technology and expertise. Under subsequent agreements between Neftegaz and ExxonMobil Corp, The Company's subsidiary gained the option to acquire interest in 20 blocks of its choosing from among ExxonMobil’s Gulf of Mexico exploration portfolio. The latest agreement represents the exercise of that option. Full Article
BP Plc Lost Again In Arctic Deal To Exxon Mobil Corporation-Reuters
Reuters reported that BP Plc, which lost its first deal to drill for oil in Russia's Arctic to Exxon Mobil Corporation, tried to negotiate a new deal with Russian state oil company Rosneft and was again beaten to the punch by its U.S. rival. ExxonMobil won access to the Arctic Laptev Sea fields, where Rosneft's prospective reserves amount to 36 billion barrels of oil equivalent, under a deal last month, but three industry sources said BP had also been in talks with Rosneft to explore several blocks there. Full Article
OGX, Exxon Mobil win Potiguar offshore Brazil blocks
RIO DE JANEIRO, May 14 - Oil companies OGX and Exxon Mobil Corp won Brazilian deepwater oil and natural gas exploration blocks in a frontier region of Brazil's Potiguar Basin at an auction on Tuesday.
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