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ExxonMobil's (XOM +1%) $1.6B purchase of Bakken oil assets is "still not big enough for Big...

ExxonMobil's (XOM +1%) $1.6B purchase of Bakken oil assets is "still not big enough for Big Oil," Oppenheimer's Fadel Gheit writes - more will be needed to move the needle of such a giant. If XOM decides to use its balance sheet on big acquisitions that are accretive or take place at favorable prices, J.P. Morgan believes XOM could outperform its peers.
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  • Larry Smith
    , contributor
    Comments (2559) | Send Message
     
    Of course a deal this size doesn't move the needle at a company the size of Exxon, but it doesn't hurt either. It gives them good production in a safe environment and I am willing to bet XOM is confident the pay zone is big. As more pipeline infrastructure is built in the Bakken area the price for the light crude will rise.

     

    Long XOM
    20 Sep 2012, 03:53 PM Reply Like
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