Exxon Mobil (NYSE:XOM) Sings Accord to Start Oil Exploration in Coast of South Africa

Exxon Mobil Corporation (NYSE:XOM) reported on Monday that the oil exploration company will soon start searching oil off the coast of South Africa.

The Irving, Texas based company purchased a 75% interest in the Tugela South Exploration Right through a deal with Impact Africa Ltd, a subsidiary of Impact Oil & Gas Ltd.

The deal covers almost 2.8 million acres offshore Durban and comprises future exploration rights covering 16 million acres offshore.

Exxon Mobil separately reported that the oil major has signed a technical cooperation permit with the South African government to study oil and gas potential of the deepwater Durban Basin, covering almost 12 million acres. Shares of Exxon surged 0.90%.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. BP plc (ADR) (NYSE:BP) rose +0.77% to settle at $41.71, Marathon Oil Corporation (NYSE:MRO) moved down -0.39% to end at $30.70 while Eni SpA (ADR) (NYSE:E) jumped +0.88% to finish at $48.25 on Monday.

Exxon Mobil Corporation (NYSE:XOM) on Dec 17, 2012 increased +0.90% to the closing price of $88.87. The overall volume in the last trading session was 15.68 million shares. Its fifty two weeks range was $77.13 – $93.67. The total market capitalization remained at $405.19 billion.

XOM is ahead of its 52-week low with 16.69% and lagging behind from its 52-week high price with -4.53%. XOM’s last month’s stock price volatility remained 1.17%. In its share capital XOM has 4.56 billion outstanding shares, among them 4.55 billion shares have been floated in market exchange. XOM’s stock’s institutional ownership remained 49.65% while insider ownership included 0.18%.

The stock price of XOM is moving forward from its 20 days moving average with 0.89% and remote negative from 50 days moving average with -0.44%. XOM’s current year’s earnings per share experienced an addition with 35.41% while its current quarter performance remained at -3.12%. Company’s beta coefficient included 0.52. Beta factors measure the amount of market risk associated with market trade.

DO NOT TRADE ANY STOCK WITHOUT LEVEL 2 STOCK QUOTES! QuoteDaddy.com delivers it's user with the most in-depth Level 2 Quotation System available on the Planet! NO Downloads, NO Widgets, NO Plugins required! Stay on TOP of your trades with QuoteDaddy.com! CLICK HERE TO START YOUR FREE 30-DAY TRIAL

This entry was posted in Energy, Main Post and tagged , , , , , , , , , , . Bookmark the permalink.