Exxon Mobil Corporation (XOM) explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania. It also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, and specialty products; and transports and sells crude oil, natural gas, and petroleum products.
According to a Reuters report, Exxon Mobil has settled on selling off its Norwegian oil and gas assets that are believed to be an amount reaching up to $4 billion to an unknown buyer. The Norwegian fields operated by local producer Equinor and Royal Dutch Shell, generated net production of around 170,000 barrels of oil from fields equivalent per day, according to its website.
Although there are no reports confirming the buyer for the deal, Exxon has been in talks with a number of interested parties reported to include Equinor, DNO, Aker BP, Var Energi. Jefferies was hired to run the sale process, banking sources told Reuters last month.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive!