Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Exxon Mobil Corporation    XOM

Delayed Quote. Delayed  - 02/10 04:00:10 pm
79.35 USD   -0.91%
03:59p EXXON MOBIL : backing oil to dominate
10:25a EXXON MOBIL : The Spectator: ‘Hand on the Bible' time for these..
09:17a EXXON MOBIL : Clamour for a Better Deal
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

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

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
React to this article
Latest news on EXXON MOBIL CORPORATION
03:59p EXXON MOBIL : backing oil to dominate
10:25a EXXON MOBIL : The Spectator: ‘Hand on the Bible' time for these climate den..
09:17a EXXON MOBIL : Clamour for a Better Deal
05:07a EXXON MOBIL : NNPC Clarifies Role of NAPIMS in U.S.$260 Million Usan Oilfield Co..
02/09DJAnadarko Slashes Dividend by 81%
02/09DJS&P Downgrades Junk-Level Ratings on 25 Oil-and-Gas Producers
02/09 5 companies that lost the most buying back their own shares
02/09 WAL MART STORES : Dow Movers: WMT, HD
02/09 EXXON MOBIL : Group to Petition EFCC Over U.S.$260 Million Usan Oilfield Contrac..
02/09 EXXON MOBIL : ExxonMobil's Earnings Slump By Over 50 Percent
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials