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Exxon Mobil Corporation Signs Exploration Deal


Exxon Mobil Corporation (NYSE:XOM) has entered into an oil exploration deal with Canacol Energy.

Exxon Mobil Corporation Signs Exploration Deal

Under this new deal, Carrao Energy Sucursal Colombia, the wholly owned subsidiary of Canacol Energy, will explore Exxon Mobil Corporation (NYSE:XOM)’s non-operated VMM 2 exploration and production contract located in the Middle Magdalena basin of Colombia.

Charle Gamba, President and CEO of the CanacolCorporation said, “As the world’s largest publicly-owned integrated oil and gas company, ExxonMobil Corporation (NYSE:XOM) brings significant experience, technology, research and financial resources to this shale oil joint venture with Canacol. We look forward to working with their team to explore the substantial shale oil potential on the VMM 2 contract.”

Exxon Mobil Corp. (NYSE:XOM) stocks were at 83.60 at the end of the last day’s trading. There’s been a -2.8% change in the stock price over the past 3 months.

Exxon Mobil Corporation Signs Exploration Deal
Exxon Mobil Corp. (NYSE:XOM) Analyst Advice
Consensus Opinion: Hold
Mean recommendation: 2.07
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 2.2
Zack’s Rank: 5 out of 19 in the industry


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