On October 6, 2009
Exxon Fires Up Acquisition Engine, Buys Kosmos’ Stake in Jubilee Oil Field
Exxon Mobil is finally putting its large cash position to use with the acquisition of Kosmos Energy’s stake in the Jubilee oil field offshore Ghana. Exxon is close to finalizing the deal, the WSJ reported Tuesday. Analysts have previously valued Kosmos’ oil field holdings in Ghana at $3 billion to $6 billion. More recent reports have pegged the value near $4 billion. Kosmos holds about a 23.5 percent interest in the Jubilee field, home of one of the largest oil finds in the past decade in West Africa. Anadarko Petroleum, the UK’s Tullow Oil and Ghana National Petroleum Corp. also are partners in the field. So what does it mean when a conservative super major — the world’s largest publicly traded company — makes its heftiest…
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