{"id":6774,"date":"2016-07-25T14:11:04","date_gmt":"2016-07-25T19:11:04","guid":{"rendered":"http:\/\/nrgibroker.com\/?p=6774"},"modified":"2016-08-21T13:38:14","modified_gmt":"2016-08-21T18:38:14","slug":"exxon-to-buy-gas-explorer-interoil-for-up-to-3-6-billion","status":"publish","type":"post","link":"https:\/\/nrgibroker.com\/en\/exxon-to-buy-gas-explorer-interoil-for-up-to-3-6-billion\/","title":{"rendered":"Exxon to Buy Gas Explorer InterOil for Up to $3.6 Billion"},"content":{"rendered":"<h3 style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">Exxon Mobil Corp. agreed to buy natural gas explorer InterOil Corp. for as much as $3.6 billion to acquire discoveries in Papua New Guinea that will feed the buyer\u2019s existing gas-export plant.<\/span><\/h3>\n<h3 style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">Exxon will use its own stock to pay between $45 and $71.87 per share of InterOil, depending on how much gas InterOil\u2019s Elk-Antelope field holds, Irving, Texas-based Exxon said in a statement on Thursday. With the range of potential payouts valuing the agreement at $2.5 billion to $3.6 billion, it represents Exxon\u2019s biggest acquisition in almost four years.<\/span><\/h3>\n<h3 style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">The world\u2019s largest energy producer by market value also agreed to pay a $60 million breakup fee on behalf of InterOil, which backed out of an earlier deal to sell itself to Oil Search Ltd. and Total SA for $2.2 billion.<\/span><\/h3>\n<h3 style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">Exxon said it plans to chill, liquefy and export the gas from the Elk-Antelope field in its PNG LNG complex on the coast of the South Pacific nation. Exxon\u2019s statement made no mention of InterOil\u2019s original plan to build a separate LNG facility known as Papua LNG from scratch. Exxon\u2019s PNG LNG plant cost $19 billion to build and began exporting the fuel in 2014.<\/span><\/h3>\n<h3 style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">\u201cExxon Mobil will work with co-venturers and the government to evaluate processing of gas from the Elk-Antelope field by expanding the PNG LNG project,\u201d the company said. \u201cThis would take advantage of synergies offered by expansion of an existing project to realize time and cost reductions that would benefit the PNG Treasury, the government\u2019s holding in Oil Search, other shareholders and landowners.\u201d<\/span><\/h3>\n<h3 style=\"text-align: justify;\"><a href=\"https:\/\/nrgibroker.com\/wp-content\/uploads\/2016\/07\/Exxon-GETTY.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-6775 size-full\" src=\"https:\/\/nrgibroker.com\/wp-content\/uploads\/2016\/07\/Exxon-GETTY.jpg\" alt=\"tion on Sep\" width=\"600\" height=\"400\" srcset=\"https:\/\/nrgibroker.com\/wp-content\/uploads\/2016\/07\/Exxon-GETTY.jpg 600w, https:\/\/nrgibroker.com\/wp-content\/uploads\/2016\/07\/Exxon-GETTY-300x200.jpg 300w, https:\/\/nrgibroker.com\/wp-content\/uploads\/2016\/07\/Exxon-GETTY-450x300.jpg 450w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/h3>\n<h3 style=\"text-align: justify;\"><span style=\"font-size: 14pt;\">Copyright:<a href=\"http:\/\/www.rigzone.com\/news\/oil_gas\/a\/145773\/Exxon_to_Buy_Gas_Explorer_InterOil_for_Up_to_36_Billion\" target=\"_blank\"> Rig Zone<\/a><\/span><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Exxon Mobil Corp. agreed to buy natural gas explorer InterOil Corp. for as much as $3.6 billion to acquire discoveries in Papua New Guinea that will feed the buyer\u2019s existing gas-export plant. Exxon will use its own stock to pay between $45 and $71.87 per share of InterOil, depending on how much gas InterOil\u2019s Elk-Antelope [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1017],"tags":[735,915,208,977],"class_list":["post-6774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-exxon","tag-investment","tag-oil","tag-opil-production"],"_links":{"self":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/6774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/comments?post=6774"}],"version-history":[{"count":0,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/6774\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media\/6776"}],"wp:attachment":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media?parent=6774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/categories?post=6774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/tags?post=6774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}