Majors eyeing lucrative plays outside the Gulf of Mexico

ExxonMobil isn’t alone among majors in turning its gaze from the US Gulf of Mexico to significant deep-water and onshore shale opportunities elsewhere

ExxonMobil is testing market interest, assessing operators' appetite for acquiring some of its upstream US Gulf of Mexico properties. The major's move highlights the ongoing trend for many oil majors operating in the US to high-grade their upstream portfolios. This means searching the globe for tempting deep-water plays or attractive shale openings. Analysts say reservoir quality and favourable logistics are viewed as premium qualities as companies continue to emphasise cost control. In Exxon's case, this trend has led to its focus on deep-water discoveries, such as the nine in its Stabroek block offshore Guyana. The company also acquired new acreage in Brazil's fifth pre-salt bid round. At