ExxonMobil Receives Approval for the Hebron Oil Project

Jun. 01, 2012 08:58PM PST

Zacks reported that ExxonMobil Corporation (NYSE:XOM) received approval from the Canada-Newfoundland and Labrador Offshore Petroleum Board for the Hebron oil project off Newfoundland.

As quoted in the market news:

Hebron − located 217 miles southeast of St. John’s, Newfoundland and approximately 300 feet under water − is a heavy oil field expected to hold over 700 million barrels.

Click here to read the full Zacks report.