Exxon Mobil‘s subsidiary, XTO Energy, has commenced efforts to find buyers for a selection of its assets. These specific holdings are located within the Eagle Ford shale basin in South Texas. An Exxon spokesperson officially confirmed this sale initiative to Reuters.
Marketing Process Underway
The U.S. oil major, Exxon, recently established a virtual data room. This digital platform facilitates the marketing of the identified assets. The opening of this data room signals the formal start of the divestment process.
Reuters initially reported the development regarding the virtual data room. Two informed sources provided details to the news agency. They indicated the data room became accessible in recent days.
Focus on Eagle Ford Shale
The assets being offered reside in the Eagle Ford shale basin. This geological formation is a significant energy-producing region. It stretches across a portion of South Texas.
XTO Energy holds various interests within this productive basin. The current sale focuses on specific, select assets from this portfolio. The company aims to divest only particular properties within its South Texas operations.
Official Confirmation
An Exxon spokesperson provided a statement to Reuters. This communication confirmed that XTO Energy is seeking buyers for these assets. The confirmation underscores the official nature of the divestment effort.
This move by Exxon’s subsidiary involves a targeted sale. The company is proceeding with a structured approach. Potential buyers can now access detailed information about the assets through the virtual data room.
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