XTO Energy, an Exxon Mobil subsidiary, seeks buyers for assets in the Eagle Ford shale basin in South Texas. The portfolio carries a valuation exceeding $1 billion. The assets include 168,000 net acres and more than a thousand wells.
An Exxon spokesperson confirmed the company is exploring market interest. Exxon stated the decision aligns with its continuous strategy to evaluate and optimize its portfolio. The company handles the marketing process internally, bypassing investment banks.
The potential sale reflects a broader industry trend of major producers divesting non-core assets to concentrate on higher-return operations. This move aligns with Exxon’s strategic focus on the Permian Basin and offshore Guyana developments. The divestiture follows the company’s major acquisition of Pioneer Natural Resources.