Exxon To Sell Barnett Shale Assets for $750 Million
19 Mai 2022 - 10:03PM
Dow Jones News
By Michael Dabaie
Exxon Mobil Corp. said it agreed to sell its Barnett Shale gas
assets in Texas to BKV Corp. for $750 million.
The energy and petrochemical giant said additional payments
would be contingent on future natural gas prices.
Exxon removed the Barnett Shale gas assets operated by its
subsidiaries XTO Energy Inc. and Barnett Gathering LLC from its
development plan in 2020.
As part of the agreement, all employees with Exxon subsidiaries
in the Barnett Shale will receive full employment offers with BKV,
the company said.
Exxon said it expects the deal to close in the second quarter of
2022.
"We are focused on delivering the most competitive returns to
our shareholders by developing opportunities with the lowest cost
of supply and further strengthening our industry-leading upstream
position," said Liam Mallon, president of ExxonMobil Upstream
Co.
Exxon shares were up 1% to $91.51 in afternoon trading.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
May 19, 2022 15:48 ET (19:48 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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