Wednesday, January 18, 2017

ExxonMobil announces purchase of companies in Texas

ExxonMobil will double its production capacity in the Permian Basin in Texas, United States, for a total of 6 billion barrels of oil equivalent (boe), through the purchase of companies, holding family resources estimated at 3.4 billion boe at the site.
According to statement, the American oil company will make an immediate payment of $5.6 billion in stock to acquire the assets, plus additional disbursements in cash for a total value of up to $1 billion, which will be paid from 2020 and until 2032.
The President of the company, Darren w. Woods, said that the assets are high quality and are an important development for ExxonMobil. The deal, according to him, should strengthen the presence of the company "in an important oil producing area on Earth".
"This investment gives us an exceptional position in a region of high relevance and can bring attractive returns in a low-price environment," said the Executive, in the statement.
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