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Exxon (XOM) Stock Lower, Enters Joint Mexico Oil Bid

NEW YORK (TheStreet) -- Shares of Exxon Mobil (XOM) were down in late morning trading on Friday as the Irving, TX-based energy giant is entering a joint bid with Chevron (CVX) and Hess (HES) to drill for crude in Mexico's deepwater oil areas, Bloomberg reports.

The three companies have reached a joint operating agreement that allows them to bid to produce oil in the 10 areas. The areas, which are located in the Perdido region near the maritime border with the U.S. and the southern Gulf's Cuenca Salina, are up for auction on Dec. 5...


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