Exxon May Soar On New Potential In Mexico

Things have been looking great for Exxon Mobil (XOM) lately. Anadarko Petroleum (APC) recently indicated that Exxon may become a partner in Anadarko's Gulf of Mexico operations. Anadarko is already partnered with Plains Exploration & Production Company (PXP) on its deepwater Phobos project in the Gulf, and according to Anadarko Vice President of Investor Relations and Communications, John Colglazier, Exxon may enter the project with up to a 20% working interest, which would reduce Anadarko's interest from 50 to 30%.

In exchange, Anadarko could receive cash and a drilling carry, which would potentially cover the cost of the project's first exploration well. This would be beneficial for Exxon Mobil, and represents just one of the recent successes the company has seen lately. Below, I will show how Exxon's current position within the energy sector makes it a strong investment now.....Looking Deep for Gains

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California Nixes PXP's Offshore Tranquillon Ridge Project

Plains Exploration & Production Company ("PXP") has announced an update on its Tranquillon Ridge (T-Ridge) project. On July 24, 2009, despite support of California Governor Schwarzenegger and bipartisan approval by the California State Senate, the California State Assembly failed to approve legislation authorizing a path forward for PXP's T-Ridge project. Support for T-Ridge has come from Santa Barbara County, the California State Senate, the Governor and a large environmental coalition, including the Environmental Defense Center, Trust for Public Land, and "Get Oil Out", as well as firefighters and peace officers throughout the state.....Complete Story