| ExxonMobil Likely to Farm into Anadarko's Mozambique Assets - Analyst Blog | |
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According to Reuters, oil major ExxonMobil Corporation XOM seems to be the most likely candidate for farming into Anadarko Petroleum Corp.’s APC stake in Mozambique’s gas reserves.
Anadarko is contemplating the divestment of its share in Mozambique’s gas reserves. Another contender for it is Qatar Petroleum. Apparently, Netherlands-based Royal Dutch Shell plc RDS.A left after announcing its $70 billion purchase of London-based BG Group plc.
Per the sources, it’s not clear whether Anadarko deems the completion of the deal to be an urgent one. Uncertainty also lies with respect to the company’s decision to sell the total or just a portion of its remaining 26.5% stake. In 2013, Anadarko received a sum of $2.64 billion in cash by selling a 10% stake in the Offshore Area 1 block in Mozambique’s deepwater Rovum Basin. Area 1 spans across 2.6 million acres.
None of the companies – ExxonMobil, Anadarko nor Royal Dutch Shell – disclosed any details regarding this development.
It is believed that the Rovum Basin has the ability to grow into one of the world’s largest LNG-producing hubs by 2018. Per the Reuters report, Anadarko had also proposed to construct a major liquefied natural gas export project, which will be fed by Area 1 reserves.
ExxonMobil is the world’s best run integrated oil company, given its track record of high return on capital employed. As the largest publicly traded oil company, ExxonMobil has long been a core holding for investors seeking a defensive name with continued dividend growth.
Exxon’s strength lies in its balanced operations, strong financial flexibility and continuous improvement on efficiency and cost control. The company’s efforts to build an unconventional resource portfolio both in North America and overseas aim at increasing production through increased exposure to large energy resources with long reserve life and low field declines.
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Anadarko
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CODE : APC |
ISIN : US0325111070 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Anadarko is a exploration company based in Canada. Anadarko is listed in Germany and in United States of America. Its market capitalisation is US$ 38.6 billions as of today (€ 34.5 billions). Its stock quote reached its lowest recent point on May 12, 1995 at US$ 10.00, and its highest recent level on May 23, 2014 at US$ 99.93. Anadarko has 531 000 000 shares outstanding. |