Exxon Mobil (XOM) subsidiary XTO Energy is seeking buyers for some of its assets in Texas’ Eagle Ford shale basin, the company told Reuters on Monday.
Exxon (XOM) recently opened a virtual data room to begin marketing the assets, which span 168K net acres and are valued at more than $1B, Reuters had reported.
The assets XTO is selling reportedly include more than 1,000 wells, some of which Exxon (XOM) operates, and others in which it holds non-operated interests, as well as those from which it earns royalties.
“This marketing decision is consistent with our strategy to continually evaluate and optimize our portfolio,” the spokesperson told Reuters, without providing further details.
Exxon (XOM) is focused on its holdings in the Permian Basin of Texas and New Mexico, as well as its assets in Guyana, and has sold several assets in recent years.