Oleo e Gas Participacoes SA, the oil company controlled by Brazilian tycoon Eike Batista, said on Tuesday that it and its partners have 421 million barrels of recoverable oil in offshore areas they control in Brazil's Potiguar and Ceara basins.The announcement, at a meeting with investors, comes as the company seeks to convince creditors to agree to a restructuring of more than $5 billion of debt as part of Latin America's largest ever bankruptcy filing.The recoverable oil includes 277 million barrels in the Ceara Basin, the company, formerly known as OGX Petroleo e Gas Participacoes SA, told investors at a presentation in Rio de Janeiro. Oleo e Gas's share of the Ceara oil and gas is 118 million barrels, the company said.In the Potiguar basin, Oleo e Gas owns 50 percent of the POT-M-762 block with Exxon Mobil. In the Ceara Basin, it owns 30 percent of the CE-M-661 block with France's Total and Queiroz Galv�o Explora��o e Produ��o and 50 percent of the CE-M-603 block with Exxon.
Exxon Mobil Corporation (Exxon Mobil) is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. Shares of XOM fell by 0.83% or $-0.81/share to $96.41. In the past year, the shares have traded as low as $84.70 and as high as $98.88. On average, 12747100 shares of XOM exchange hands on a given day and today's volume is recorded at 7371395.
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