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Stock Market & Financial Investment News

News Breaks
January 4, 2013
12:01 EDTXOMExxon Mobil says Hebron oil project designed for 150,000 barrels of oil daily
Exxon Mobil announced it will develop the Hebron oil field offshore the Canadian province of Newfoundland and Labrador using a gravity-based structure that will recover more than 700 million barrels of oil, an increase versus earlier estimates. Capital cost for the project, which is expected to begin oil production around the end of 2017, is estimated at $14B. The platform is being designed for daily production of 150,000 barrels of oil. The project received regulatory approval from the governments of Canada and Newfoundland and Labrador in May.
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