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Exxon Mobil Corporation: ExxonMobil to Sell U.K. Upstream Central and Northern North Sea Assets Sale price of more than $1 billion advances divestment plans, further focusing portfolio on advantaged assets ExxonMobil retains extensive refining and fuels marketing, lubricants, petrochemicals production and natural gas marketing business in the U.K. 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. ....
Author Bio Matthew is a senior energy and materials specialist with The Motley Fool. He graduated from Liberty University with a degree in Biblical Studies and a Masters of Business Administration. You can follow him on Twitter for the latest news and analysis of the energy and materials industries: Follow @matthewdilallo ExxonMobil (NYSE:XOM) announced today that it has agreed to sell most of its non-operated upstream oil and gas assets in the U.K. s central and northern North Sea to NEO Energy. The oil giant will receive more than $1 billion for the properties upon closing, which should occur by the middle of this year. On top of that, it could receive up to $300 million of additional contingent payments based on higher commodity prices. ....
ExxonMobil selling some assets for more than $1B lmtonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lmtonline.com Daily Mail and Mail on Sunday newspapers.
Exxon Mobil Corp. agreed to sell some assets in the North Sea for more than $1 billion as the company focuses on newer and larger sources of oil and gas such as Guyana, Brazil and the U.S. Permian Basin. ....