Energy Business Review: Exxon andTotal Exchange Interests, Cheniere and Sempra Talk With Tepco
Exxon Mobil Corporation (NYSE:XOM) and Total (NYSE:TOT) are exchanging minority interests in a number of different projects off the coast of Norway. The French oil major Total will receive from Exxon approximate 4 percent interests in the Oseberg field and the Oseberg transportation system along with interests in two Dagny field licenses. In return, Exxon will obtain the Synga, Statfjord Ost and Snorre fields.
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Tepco is said to be in talks with Cheniere Energy (AMEX:LNG), Sempra Energy (NYSE:SRE), and other domestic energy firms concerning the importation of import shale gas, so as to help it keep down fuel costs and decrease high electricity charges. Last month Tepco was forced to raise household power rates, and cheap domestic shale imports could permit it to reduce costs.
Shares of Northern Oil & Gas (AMEX:NOG) are up modestly on Monday due to takeover rumors that abound. The firm has strong financial prospects plus a recent management shakeup, but shares have traded at a notable discount to peers since the shorts attacked it in 2011. However, certain analysts believe that a sale could be the ultimate goal.
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