ExxonMobil Looking to Divest Certain US & Norwegian Assets
ExxonMobil Exploration and Production Norway AS (a subsidiary of ExxonMobil Corporation) is soliciting bids for the sale of its 25% interest in the Fram Field and area, Norwegian Sector, North Sea. The Fram Field and license area is operated by Norsk Hydro. Net production from the field is approximately 7,000 BOPD and is expected to increase to 15,000 BOPD in 2007. A data room will be held in ExxonMobil's office in Stavanger, Norway in May and June. Bids will be due in July, 2005.
In the Gulf of Mexico ExxonMobil Production Company is soliciting bids for the sale of ExxonMobil Corporation's and/or Mobil Oil Exploration & Producing Southeast Inc.'s interest in the Main Pass 133 and Main Pass 283 field areas. These Main Pass fields contain a mix of operated and non-operated interests covering approximately 8,700 net acres.
This Gulf of Mexico property offering averaged an ExxonMobil cash profit (BFIT) of $4 million per month from net sales of about 3.7 thousand BOED in 2004. In May of 2005, ExxonMobil will open a data room in Houston, Texas and make a CD brochure available to prospective bidders in May. Bids will be due July 1, 2005. The effective date of the sale is September 1, 2005.
Onshore Texas: ExxonMobil Production Company is soliciting bids for the sale of its interest in Magnet Withers Field in Southeast Texas. This ExxonMobil-operated field consists of five leases with 55 oil and gas wells (27 active and 28 shut-in).
In 2004, ExxonMobil net sales averaged 268 BOPD and cash profit (BFIT) averaged $153K per month. A CD brochure containing ExxonMobil's sales instructions and sample agreements, accounting, geological, engineering data, and land descriptions will be available in early May. A data room will be open in Houston, Texas in mid-May. Bids will be due in mid-June. The effective date of the sale is August 1, 2005.
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