ExxonMobil $XOM Increases Brazil Oil Acerage With Statoil Stake

ExxonMobil has expanded it’s offshore acerage with a deal to acquire half of Statoil’s 66% interest in the BM-S-8 block of offshore Brazil , Criterion Research reported. $XOM will pay an upfront cash payment of $800 million with contingent payments of up to $500 million.