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Exxon eyes sale of interest in Canada's Terra Nova oil project

Published 02/27/2018, 02:42 PM
© Reuters.  Exxon eyes sale of interest in Canada's Terra Nova oil project
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  • Exxon Mobil (XOM -0.7%) says it plans to sell its 19% interest in the Terra Nova oil project off the east coast of Canada following a review of its portfolio to ensure a deal would meet its strategic objectives.
  • XOM says the decision has no impact on its other assets in Canada, which include the $14B Hebron offshore oil project off Newfoundland and Labrador as well as part ownership of the Hibernia offshore project.
  • Suncor Energy (SU -1.4%) is the operator of Terra Nova with a 38% stake.
  • Now read: Integrated Oil And Gas Stock Price Risks And Returns: An Understanding Today


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