June 08, 2011 09:00 AM Eastern Daylight Time

ExxonMobil Announces Three Discoveries in Deepwater Gulf of Mexico

Potential for more than 700 million barrels of recoverable oil equivalent

IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) today announced two major oil discoveries and a gas discovery in the deepwater Gulf of Mexico after drilling the company's first post-moratorium deepwater exploration well.

“This is one of the largest discoveries in the Gulf of Mexico in the last decade. More than 85 percent of the resource is oil with additional upside potential.â€