The decision by the US oil major comes just six weeks after the deadline for indicative bids for the portfolio set by adviser JPMorgan.
“After completing an extensive market evaluation, ExxonMobil has decided to retain its operated Gippsland Basin producing assets in Australia,” a spokesman for ExxonMobil’s local affiliate Esso Australia was quoted by the AFR as saying.
He signalled that the sale process had not yielded attractive enough offers, the AFR reported.
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/30112020/afr-exxonmobil-abandons-sale-of-bass-strait-assets/
You might also like
The machine learning models that have been developed can assist geologists and geophysicists in reconstructing missing well logs, making lithology predictions, calculating shale content, and mapping potential undiscovered reservoir areas.