MARKET TALK:Exxon Offshore Projects Could Benefit From Oil Spill -Analyst

13th Jul 2010 15:19

[Dow Jones] The tragic Deepwater Horizon oil spill in the Gulf of Mexico could give Exxon Mobil Corp. (XOM) the opportunity to become the operator on many of its offshore joint venture projects on advantageous terms that will add value to the company through larger equity stakes in exchange for handling operations, says Fadel Gheit, analyst at Oppenheimer & Co. The oil giant will benefit thanks to "its best-in-class" safety culture, he adds. Exxon's shares were 31 cents up to $59.25. Contact us in Houston at 713-547-9207 or [email protected]. (END) Dow Jones Newswires July 13, 2010 10:19 ET (14:19 GMT)