4 Merger and Acquisitions Stock Stories for Tuesday Investor Appraisal
Exxon Mobil Corporation (NYSE:XOM): Current price $89.98
ExxonMobil and other American companies want to acquire offshore blocks in Peru in 2013 in that country’s first bidding round since 2010, according Luis Ortigas, president of state oil-contracting agency Petroperu, who commented that “companies have shown increasing interest following offshore discoveries by BPZ and Savia. We need to increase the number of exploration wells being drilled to 40 or 50 a year from about six now.” The government will also auction the Argentine firm Pluspetrol SA’s Block 1-AB, whic his Peru’s largest oilfield. State oil company Petroperu will take an approximate 25 interest stake in all blocks.
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