ExxonMobil (NYSE: XOM) said on Sept. 3 that a blockade by former employees threatens crude production at oil facilities in Nigeria, adding that “disruptions to these operations have the potential to significantly impact revenues.”
The company made the announcement in a statement after a six-week blockade by former workers at the oil facilities.
Mobil Producing Nigeria, the ExxonMobil subsidiary that released the statement, produces over 550,000 barrels per day of crude oil, condensates and NGL, according to the company website.
Nigeria’s average production in the second-quarter of 2018 was 1.8 million barrels per day, according to the country’s statistics office.
The blockades were described in ExxonMobil’s statement as the “playing of loud music, defacing of company facilities and intimidation of personnel.”
The “continued denial of access to production facilities could impact the company's ability to safely continue production operations,” ExxonMobil said.
Medco said shareholders of Ophir, an upstream oil and gas exploration and production company focused on Asia and Africa, would receive 48.5 pence in cash for each Ophir share.
DNO's combined ownership and bid acceptances now stands at 43.8%, up from about 43% but still short of a controlling stake in British independent oil and gas company Faroe Petroleum.
Total hired investment bank Jefferies in December to run the sale process of its offshore gas fields in the Netherlands that could raise up to $400 million, according to the sources.