Exxon Mobil will be recruiting in many locations this year, according to a statement from a company representative.
The payments will begin in 2020 and end no later than 2032, commensurate with the resources’ development, Exxon said in a company statement.
The Muruk-1 well encountered similar high-quality sandstone reservoirs as the Hides field and was in line with pre-drill expectations, according to an Exxon statement.
The company also announced late last year that a new natural gas discovery had been made in the Papua New Guinea North Highlands, 13 miles northwest of the Hides Gas Field.
The well was safely drilled to 10,630 feet, with evaluations currently underway to determine the size of the discovery.
As it stated in
7 Reasons to Buy Exxon Mobil Corporation and Never Sell — The Motley Fool
However, a good company isn’t always a good investment, because price matters — and that is the key, here.
A good company, and a good stockI think it’s pretty clear that I believe Exxon is a good story today.
And even when it comes to drilling, Exxon is doing more than just one thing.
The company’s downstream operations, though, saw earnings more than double, benefiting from the lower oil prices improving the company’s refining margins.
Yes, renewables will be making the headlines, but oil isn’t going away anytime soon.
collected by :John Locas