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Monday, August 22, 2011

Exxon Mobil Estimates Oil spill in Yellowstone River will Cost Over $42 Million

- Exxon Mobil Estimates Oil spill in Yellowstone River will Cost Over $42 Million



Aug 22, 2011

Exxon Mobil (NYSE:XOM) Pipeline told federal regulators that its oil pipeline spill into Montana's Yellowstone River will cost an estimated $42.6 million.

The July 1 pipeline break near Laurel spilled about 42,000 gallons, or 1,000 barrels, of crude oil into the scenic waterway.

Exxon Mobil's cost estimate includes $40 million for emergency response work and $2.5 million for damage to public and private property. The company valued the lost oil at $100,000.

The company announced last week that the clean up might continue for several more months.

Exxon Mobil (NYSE:XOM) has a potential upside of 30.6% based on a current price of $70.78 and an average consensus analyst price target of $92.46.

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