Exxon Renews U.S. Gulf of Mexico Exploration For Oil
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Exxon Mobil Corp., the world’s largest energy company by market value, is boosting exploration for oil in the U.S. Gulf of Mexico five years after dismissing the region as too costly.
Technological breakthroughs in seismic imaging have enabled Exxon’s geologists and engineers to more thoroughly assess subsea crude deposits that previously eluded them in the deepest parts of the Gulf, Chairman and Chief Executive Officer Rex Tillerson said in a meeting with reporters in Dallas today.