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Spdr S&P Oil & Gas Exploration & Production Etf V.XOP.W


Primary Symbol: XOP

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the oil and gas exploration and production segment of a U. In seeking to track the performance of the S&P Oil & Gas Exploration & Production Select Industry Index, the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the oil and gas exploration and production segment of the S&P Total Market Index (S&P TMI).


ARCA:XOP - Post by User

Comment by checkingfacts66on Jun 03, 2015 12:26pm
188 Views
Post# 23793435

RE:Update

RE:UpdateArt said at the AGM they have 2 meetings a year with Exxon.  I may be wrong, but I think he said the next one is in September or October.  He said that Exxon was applying for some permit on shore, some environmental letter, that he didn't think would be too hard to get from the Liberian government.  That was expected to be issued in July.  And that drill ships were all available so he expected Exxon would be able to secure a rig within what would now be 5 to 8 months.  He also said that the onshore servicing was going to be set up for a different country and not Liberia.  He said that Exxon were already set up there, so I think he said it saved lead time in preparing for the on shore facility requirements for Exxon to drill offshore.  And he said that Exxon has confirmed for him that it continues to keep budget in place for this drill, so it will go ahead as soon as Exxon gets this last environmental letter.  I hope that is clear.
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