Energy Biz Review: Exxon Decides Australian Question, Statoil Divests US Wells

BP (NYSE:BP) and Transocean (NYSE:RIG) have been notified by the Coast Guard that a new sheen of oil has been spotted near the Macondo site, which matches the oil from the 2010 spill. The sheen might be linked with oilfield debris left on the ocean floor at that time, but presently does not pose a threat to the shoreline. However, the firms could still be held financially liable for the new oil.

Exxon Mobil Corporation’s (NYSE:XOM) Australian chairman said Thursday, that the firms expects to make a decision in regards to how to develop the Scarborough gas field, around the second half of next year, which is thought to be one of the toughest projects in Western Australia.

Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>

Norway’s Statoil (NYSE:STO) is said to be ready to divest some 230 onshore wells in the United States as it attempts to rid itself of gas producers after the sharp fall of North American natural gas prices. This number reportedly incldes 180 onshore natural gas wells that the firm gained through its $4.4 billion purchase of Brigham Exploration.

Don’t Miss: Will BP Soon Put Deepwater Horizon Disaster to Rest?