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Reuters breaks news of Exxon Ghana oil field buy

Reuters broke the news on Oct 6 that Exxon Mobil was the surprise winner in a multibillion dollar auction of a stake in a Ghanaian oil field. Three sources close to the process told Reuters of the agreement by Blackstone and Warburg Pincus-backed Kosmos to sell their Jubilee field interest to Exxon. Dow Jones followed, with a story based on a single source, an hour later, while Bloomberg was hours behind, by which stage analysts already had produced notes for clients. Shares of two smaller companies that are investors in the field, Tullow Oil and Andarko gained up to 8 percent.

Market Impact

Shares of Tullow Oil and Andarko gained up to 8 percent.

Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Europe / Middle East / Africa
Countries: Ghana
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