Exxon says claims relating to valuation of Permian Basin assets ‘demonstrably false’ - Panorama Insurance Brokers

Exxon says claims relating to valuation of Permian Basin assets ‘demonstrably false’

U.S oil major ExxonMobil said on Friday that there is no basis for claims made by an alleged whistleblower, and reported by The Wall Street Journal, regarding the valuation of its assets in the Permian Basin.

The Journal reported on Friday that the Securities and Exchange Commission in the U.S. launched an investigation of Exxon Mobil Corp. after an employee filed a whistleblower complaint last fall alleging that the energy giant overvalued one of its most important oil and gas properties. The publication said this was according to people familiar with the matter.

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