Exxon Mobil Unit Acquires 80% Interest in Liberia Block 13; Shares Shed 1%


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Exxon Mobil Corporation ( XOM ) announced that its Liberian affiliate has acquired from Canadian Overseas Petroleum Ltd. (COPL) an 80% interest in Liberia Block 13, which comprises more than 625,000 acres in offshore Liberia in water depths ranging from 250 to 10,000 feet.

ExxonMobil Exploration and Production Liberia Limited and COPL received final approval of the transaction from the Liberia national legislature and Liberia President Ellen Johnson Sirleaf. The transaction closed on April 5, 2013.

XOM shares are down 1.1% to $88.80, amid a 52-week range of $77.13 - $93.67.

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This article appears in: Investing , Commodities

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