Exxon to Sell $1 Billion in Non-Core Permian Basin Oil Assets
8/27/2024
(Reuters) — Top U.S. oil company ExxonMobil is looking to sell oil assets in the U.S. Permian Basin that could fetch $1 billion, Bloomberg Law reported on Tuesday.
Exxon, which purchased Pioneer Natural Resources for $60 billion in May, wants to sell a collection of conventional oil and gas properties in the Permian across west Texas and New Mexico to focus on higher-growth assets.
Reuters first reported on the planned sale in June.
The company is offering 14 asset groups, eight operated by Exxon and stakes in six non-operated groups, according to a company prospectus.
Exxon said the sale is consistent with its strategy to continually evaluate its portfolio.
Related News
Related News
Sign up to Receive Our Newsletter

- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- US Poised to Become Net Exporter of Crude Oil in 2023
- EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline
Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
Comments