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ExxonMobil has signed an agreement with HitecVision, through its wholly owned portfolio company NEO Energy, for the sale of most of ExxonMobil’s non-operated upstream assets in the United Kingdom central and northern North Sea. The sale price of more than $1 billion is subject to closing adjustments, and has additional upside of approximately $300 million in contingent payments based on potential for increase in commodity prices.
The sale includes ExxonMobil’s interests in 14 producing fields in the UK North Sea, including Shearwater (pictured). (Photo: Business Wire)
“We continue to high-grade our portfolio by divesting assets that are less strategic and focusing our investments on our advantaged projects that are among the best in the industry,” said Neil Chapman, senior vice president of ExxonMobil. “Our development plans that prioritize Guyana, the U.S. Permian Basin, Brazil and LNG are focu
ExxonMobil has signed an agreement with HitecVision, through its wholly owned portfolio company NEO Energy, for the sale of most of ExxonMobil’s non-operated upstream assets in the United Kingdom central and northern North Sea. . Read more here.
- ExxonMobil to sell U K upstream euro-petrole.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from euro-petrole.com Daily Mail and Mail on Sunday newspapers.
Exxon in $1B+ North Sea Deal rigzone.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rigzone.com Daily Mail and Mail on Sunday newspapers.
The sale to HitecVision, through its wholly owned portfolio company NEO Energy, covers most of ExxonMobil’s non-operated upstream assets in the United Kingdom central and northern North Sea.