Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Exxon Mobil Corporation    XOM   US30231G1022

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

Exxon Agrees To Fund Up To $50Mln Of Canacol Play In Colombia

04/04/2012 | 05:54pm US/Eastern
Recommend:
0

ExxonMobil Corp. (>> Exxon Mobil Corporation) agreed to pay up to $50 million to help fund a Colombian oil development being explored by Canacol Energy Ltd. (CNE.T, CAAEF).

Under the deal, which remains subject to approval by Colombian regulators, ExxonMobil will carry some of the cost of drilling and testing up to three wells in one of Canacol's shale oil plays.

Canacol said the arrangement will help it develop the unconventional oil play as Exxon brings its drilling expertise to the region.

ExxonMobil stands to earn half of the proceeds from Canacol's 40% interest in the contract. Canacol plans to retain its 100% interest in the adjacent Santa Isabel exploration and production contract.

Exxon shares were recently off 10 cents at $84.88 after hours. The stock is off 1.6% this month through Wednesday's close.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stocks mentioned in the article : Exxon Mobil Corporation
Recommend :
0
React to this article
Latest news on EXXON MOBIL CORPORATION
18m ago Chevron Quarter2 profit tops estimates on higher oil, gas prices
26m ago EXXON MOBIL : Announces Estimated Second Quarter 2014 Results
31m ago EXXON MOBIL : ExxonMobil resumes oil flow through southern section of Pegasus pi..
52m ago Chevron second-quarter profit tops estimates on higher oil, gas prices
4h ago EXXON MOBIL : A time for reflection
1d ago EXXON MOBIL : Sell-off brings biggest Dow decline since February
1d ago EXXON MOBIL : EFE News Briefs for Thursday, July 31
1d ago EXXON MOBIL : Oil giant ExxonMobil's earnings rise 28 pct. in 2nd qtr.
1d ago EXXON MOBIL : Not on My Balance Sheet: Climate Change, Fossil Fuels and Stranded..
1d ago EXXON MOBIL : Profit Rises Despite Fall In Output
Advertisement
Chart
Duration : Period :
Exxon Mobil Corporation Technical Analysis Chart | XOM | US30231G1022 | 4-Traders
Income Statement Evolution
Exxon Mobil Corporation : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF