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MarketScreener Homepage  >  Equities  >  Nyse  >  Exxon Mobil Corporation    XOM

EXXON MOBIL CORPORATION (XOM)
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Exxon Mobil : Exxonmobil Announces New Discovery off Guyana

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10/06/2017 | 12:16pm CEST

A consortium led by ExxonMobil has identified new crude deposits in the offshore Stabroek block, its fifth discovery in the area off the coast of Guyana.

A 23m-deep reservoir of high quality, oil-bearing sandstone was found during drilling of the Turbot-1 well, which reached a depth of 5,622m, ExxonMobil said in a statement on Thursday.

The announcement follows discoveries at the nearby Liza, Payara, Snoek and Liza Deep areas.

"The results from this latest well further illustrate the tremendous potential we see from our exploration activities offshore Guyana," ExxonMobil`s exploration chief Steve Greenlee said.

Turbot-1 is located in Stabroek`s southeastern section, around 50km from the Liza phase one project.

ExxonMobil said the Stena Carron drillship would now move to the Ranger prospect, adding that a second Turbot well was being planned for 2018.

The US major holds a 45% operating interest in the 26,800km2 Stabroek block alongside Hess Guyana Exploration (30%) and CNOOC Nexen Petroleum Guyana (25%).

Meanwhile Keppel Shipyard said it secured a contract with SBM Offshore to convert an oil carrier into a floating production, storage and offloading (FPSO) vessel for the Stabroek block.

The FPSO will have a storage capacity of 1.6Mb of crude and produce up to 120,000/d. It will also have a gas treatment capacity of around 170Mf3 (4.81Mm3)/d and a water injection capacity of 200,000b/d.

(c) 2017 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 319 B
EBIT 2018 31 229 M
Net income 2018 19 820 M
Debt 2018 34 792 M
Yield 2018 3,81%
P/E ratio 2018 18,34
P/E ratio 2019 14,55
EV / Sales 2018 1,23x
EV / Sales 2019 1,17x
Capitalization 358 B
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Number of Analysts 20
Average target price 88,1 $
Spread / Average Target 4,1%
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Darren W. Woods Chairman, President & Chief Executive Officer
Andrew P. Swiger Chief Financial Officer & Senior VP
Samuel J. Palmisano Independent Director
Steven S. Reinemund Independent Director
Kenneth C. Frazier Independent Director
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