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Exxon eyes sale of interest in Canada's Terra Nova oil project

Feb. 27, 2018 2:42 PM ETExxon Mobil Corporation (XOM) StockXOM, SUBy: Carl Surran, SA News Editor9 Comments
  • Exxon Mobil (XOM -0.7%) says it plans to sell its 19% interest in the Terra Nova oil project off the east coast of Canada following a review of its portfolio to ensure a deal would meet its strategic objectives.
  • XOM says the decision has no impact on its other assets in Canada, which include the $14B Hebron offshore oil project off Newfoundland and Labrador as well as part ownership of the Hibernia offshore project.
  • Suncor Energy (SU -1.4%) is the operator of Terra Nova with a 38% stake.

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