Current XOM Stock Info

ExxonMobil to proceed with long-term development, two-phase attack in South American shale play
Tuesday morning, ExxonMobil (stock ticker: XOM) announced its plans to proceed with the long-term development of its assets in the Vaca Muerta basin in Argentina’s Bajo del Choique-La Invernada block.

The project is to include 90 wells, a central production facility, and export infrastructure connected to the Oldeval pipeline and refineries. Within five years, it is expected to produce up to 55,000 BOEPD.

Assuming that the project is successful, Exxon also has plans for a second phase, which it says will be able to produce up to 75,000 BOEPD. Whether or not those plans will come to fruition, however, depends on a multitude of factors, incl...

Legal Notice