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Exxon to Sell Some North Sea Assets for Over $1 Billion


Exxon to Sell Some North Sea Assets for More Than $1 Billion
Bloomberg
2/24/2021
Doug Alexander and Simon Casey
© Photographer: David McNew/Getty Images North America
BURBANK, CA - FEBRUARY 01: An Exxon gas station advertises its gas prices on February 1, 2008 in Burbank, California. Exxon Mobil Corp. has posted an annual profit of $40.6 billion, the largest ever by a US company, and set a new US record for the highest quarterly profit, $11.7 billion for the last three months of 2007. The previous annual profit record, $39.5 billion, was set by Exxon in 2006. The company s revenue also rose 30 percent in the fourth quarter, from $90 billion a year ago to $116.6 billion. Yearly sales were up from $377.64 billion in 2006 to a new company record of $404.5 billion. Exxon was particularly benefited by historic crude prices at the end of the year. Exxon Mobil is the world?s largest publicly traded oil company. (Photo by David McNew/Getty Images ....

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Exxon Mobil to sell its UK upstream business for more than $1 billion

Exxon Mobil plans to sell holdings in the oil fields of the United Kingdom and the northern North Sea for more than $1 billion, as it focuses its portfolio on projects delivering the highest returns. The Irving oil major, the nation's largest oil company, on Wednesday said it signed an agreement to sell to NEO Energy its interests in 14 oil fields operated primarily by Royal Dutch Shell, oil fields operated by French oil major Total and. ....

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ExxonMobil To Sell U.K. Upstream Central And Northern North Sea Assets To HitecVision


ExxonMobil To Sell U.K. Upstream Central And Northern North Sea Assets To HitecVision
IRVING (dpa-AFX) - ExxonMobil said Wednesday that it agreed to sell most of its non-operated upstream assets in the United Kingdom central and northern North Sea to HitecVision for more than $1 billion. The sale price has additional upside of about $300 million in contingent payments based on potential for increase in commodity prices.
The agreement includes ownership interests in 14 producing fields operated primarily by Shell, including Penguins, Starling, Fram, the Gannet Cluster and Shearwater; Elgin Franklin fields operated by Total; and interests in the associated infrastructure. ExxonMobil s share of production from these fields was approximately 38,000 oil-equivalent barrels per day in 2019. ....

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