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Last Update: 08-Jun-11 10:58 ET
XOM Announces Three Discoveries in Deepwater GoM
Exxon Mobil (XOM $81.22 +1.22) announced two major oil discoveries and
a gas discovery in the deepwater Gulf of Mexico after drilling the company's
first post-moratorium deepwater exploration well. announced two major oil
discoveries and a gas discovery with a combined estimated recoverable resource
of more than 700 mln barrels of oil equivalent.
The company said, "We estimate a recoverable resource of more than 700 mln
barrels of oil equivalent combined in our Keathley Canyon blocks... This is one
of the largest discoveries in the Gulf of Mexico in the last decade. More than
85% of the resource is oil with additional upside potential."
