ADVFN - Advanced Financial Network.
HOME» NYSE » E » XOM Stock Price » XOM Stock News

Exxon Mobil Share News

 Exxon Mobil Corp. Stock Price
XOM Stock Price
 Exxon Mobil Corp. Stock Chart
XOM Stock Chart
 Exxon Mobil Corp. Stock News
XOM Stock News
 Exxon Mobil Corp. Company Information
XOM Company Information
 Exxon Mobil Corp. Stock Trades
XOM Stock Trades

Exxon, Linn Energy to Exchange Energy Assets

By Tess Stynes Exxon Mobil Corp. (XOM) reached an agreement with Linn Energy LLC (LINE) that will add nearly 26,000 acres to U.S. oil-and-gas properties managed by Exxon's XTO Energy unit. In exchange, Linn Energy will receive a portion of XTO's interest in the Hugoton gas field in Kansas and Oklahoma. Specific terms of the deal weren't disclosed, although the companies noted it was a nonmonetary exchange. Virtually all of the acreage that XTO is adding is located in the portion of the Midland Basin, which XTO President Randy Cleveland said "is in a prolific area where we expect rapid, profitable development of multiple horizons in the Wolfcamp and Spraberry formations." "This transaction continues XTO's growth in a key liquids play," Mr. Cleveland said, noting the company will continue to be the largest producer of natural gas and largest holder of proved gas reserves in the U.S. For its part, Linn said the exchange will make the company the largest producer in the Hugoton Basin. The Hugoton gas field interests include current production of about 85 million equivalent cubic feet a day, 80% of which is natural gas. Linn said the transaction includes about 400 future drilling locations, which will double its inventory in the Hugoton field. Linn Chairman and Chief Executive Mark E. Ellis, said that following the closing of the trade, expected in the third quarter, Linn will have about 30,000 net acres in the Midland Basin that is prospective for horizontal Wolfcamp drilling. "We continue to see strong interest in the market for a trade or sale of these remaining assets and believe there is significant additional value for our unitholders." Write to Tess Stynes at tess.stynes@wsj.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Exxon Mobil (XOM)
DateTimeHeadline
05/23/201511:00:023 Safe Investments in Commodities
05/22/201517:00:03Should You Follow Goldman Sachs Advice on Oil Stocks?
05/22/201510:20:00Media Reports About ExxonMobil Lobbying on Iran Sanctions Are...
05/20/201520:37:07Exxon, Worleyparsons Settle Dispute for US$78 Million
05/20/201513:13:00ExxonMobil Announces Significant Oil Discovery Offshore Guyana
05/20/201512:15:10What Is the S&P 500 Index?
05/20/201508:00:00Bigger Than the Bakken: Energy Companies Setting Their Sights...
05/19/201519:00:15Tim Cook is Making His Mark on Apple
05/19/201515:08:58Which Big Oil Stock Would Benjamin Graham Buy Today?
05/18/201521:09:03The 30 Dow Jones Stocks
05/18/201510:00:00Media Advisory: ExxonMobil Annual Meeting of Shareholders Wednesday...
05/17/201510:00:02How Foreign Exchange Risk Affects Natural Gas Stocks
05/17/201507:00:02How to Invest Money in Oil
05/15/201519:55:34Third Point Sells Entire $1 Billion Stake in Alibaba
05/15/201507:04:023 Energy Stocks to Buy in May and Go Away
05/14/201520:39:32Oil Search Foreshadows Revenue Slump
05/14/201517:29:20Additional Proxy Soliciting Materials (definitive) (defa14a)
05/14/201511:00:02Who Is The Biggest Player In Energy?
05/13/201519:02:02Oil Stocks: 4 Key Facts All ExxonMobil Investors Need to Know...
05/13/201514:03:02Best Energy Dividend Stock? The State of Alaska

Exxon Mobil and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad