Prior to its acquisition by Exxon, InterOil Corporation was an

oil and gas A fossil fuel is a flammable carbon compound- or hydrocarbon-containing material formed naturally in the Earth's crust from the buried remains of prehistoric organisms (animals, plants or microplanktons), a process that occurs within geologi ...

company with a primary focus on

Papua New Guinea Papua New Guinea, officially the Independent State of Papua New Guinea, is an island country in Oceania that comprises the eastern half of the island of New Guinea and offshore islands in Melanesia, a region of the southwestern Pacific Ocean n ...

. InterOil's assets included one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province. The company employed more than 2000 staff and contractors. Its main offices were in Singapore and Port Moresby. InterOil was formed in 1997 and was incorporated in

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

. The company was listed on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

and the

Port Moresby Stock Exchange Port Moresby Stock Exchange is the principal stock exchange of Papua New Guinea. It is located in Port Moresby and it was founded in 1999. Its name is abbreviated to "POMSoX" At the time of its founding POMSox was funded by the Bank of Papua New ...

. It had a market capitalization of $2.8 billion. It had the following assets: − Exploration: Oil & Gas Exploration licenses to 3.9 million acres (an area larger than Qatar) − Development: Elk-Antelope in Petroleum Retention License 15, being developed as PNG's second major LNG project with supermajor

TotalEnergies TotalEnergies SE is a French multinational integrated energy and petroleum company founded in 1924 and is one of the seven supermajor oil companies. Its businesses cover the entire oil and gas chain, from crude oil and natural gas explorati ...

and

Oil Search Oil Search was the largest oil and gas exploration and development company incorporated in Papua New Guinea, which operated all of the country's oilfields. In December 2021, it merged with the Australian company Santos. History Oil Search was ...

On February 17, InterOil announced its onshore Antelope-5 appraisal well had found a reservoir in Papua New Guinea's Gulf Province. On July 21, 2016,

ExxonMobil Exxon Mobil Corporation ( ) is an American multinational List of oil exploration and production companies, oil and gas corporation headquartered in Spring, Texas, a suburb of Houston. Founded as the Successors of Standard Oil, largest direct s ...

announced its intent to acquire InterOil for $2.5 billion. On February 22, 2017, InterOil confirmed the completion of this transaction.

References

Oil and gas companies of Papua New Guinea Oil companies of Canada Companies formerly listed on the New York Stock Exchange {{petroleum-company-stub