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Exxon completes purchase of half of Equinor's Carcara oilfield stake

Published 06/06/2018, 02:58 PM
© Reuters.  Exxon completes purchase of half of Equinor's Carcara oilfield stake
XOM
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EQNR
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  • Exxon Mobil (XOM +1.4%) says it completed the purchase of half of Equinor’s (EQNR +0.8%) interest in the BM-S-8 block offshore Brazil, part of the 2B-barrel pre-salt Carcara oil field in the Santos Basin.
  • XOM and EQNR each now hold 36.5% stakes in the BM-S-8 block, with smaller amounts held by Petrogal Brasil and Barra Energia; XOM and EQNR also each hold 40% stakes in the adjacent North Carcara block, which contains the other part of the Carcara field.
  • EQNR, which operates both blocks, received $955M in the deals and could receive further payments of $595M if performance milestones are met.
  • Now read: Dril-Quip: /Share In Cash, But Nobody Cares


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