SUBSCRIBE
PROFILE

ExxonMobil sells $1 billion of conventional assets in the Permian Basin

ExxonMobil sells conventional oil fields in the Permian Basin to refocus on shale, following its acquisition of Pioneer Natural Resources.

Share:

Subscribe for unlimited access to all the latest energy sector news.

Over 150 multisector articles and analyses every week.

For less than €3/week*

*For an annual commitment

*Engagement annuel à seulement 99 € (au lieu de 149 €), offre valable jusqu'au 30/07/2025 minuit.

SUBSCRIBE

ExxonMobil has agreed to sell conventional oil assets in the Permian Basin for around $1 billion.
This transaction is part of a strategy to refocus on shale deposits, which are more profitable and aligned with the company’s priorities following the acquisition of Pioneer Natural Resources.
The fields concerned, mainly based on conventional technologies, are less profitable than the company’s new strategic priorities in the region.
The recent acquisition of Pioneer Natural Resources almost doubles ExxonMobil’s production in the Permian Basin, necessitating a reorganization of its asset portfolio.
By divesting these older oil fields, the company is strengthening its ability to invest in the Permian Basin’s unconventional resources, which are deemed more lucrative.

Strategy to refocus on shale

The refocusing on shale deposits is explained by the higher profitability of these resources compared with conventional fields.
The Permian Basin, renowned for its vast unconventional reserves, becomes the focus of ExxonMobil’s operations in this region.
The sale of conventional assets frees up capital to develop high-potential projects in the shale segments.
The sale process, currently being finalized, includes consultations with potential buyers, aimed at maximizing the value of these assets for the company.
The strategy is to focus investments on areas with the most promising return prospects, in line with evolving energy market conditions.

Impact on the US oil market

This asset disposal illustrates a broader restructuring trend within the US oil industry, where the major players are concentrating on the most profitable segments.
The Permian Basin remains at the heart of this dynamic, with increased competition for shale resources.
By reorganizing their portfolios, the major companies are seeking to optimize their operations in the face of global market uncertainties.
The impact of this sale could be significant, not only for ExxonMobil, but also for the sector as a whole, by consolidating assets around the best-performing fields.
The rationalization movement observed in this region could spread to other parts of the sector, influencing the strategy of other oil companies.

  • Popular on energynews.pro
ACEN reaches 2,100 MW of attributable renewable capacity in India
Funds Push European Carbon Positions to Highest Since April
OT Cyberattacks: Energy Sector Faces $329 Billion in Risks
An Elliott affiliate raises bid to $8.82bn for Citgo’s parent company
Surveys for Kazakhstan’s first nuclear power plant enter active phase
Dangote secures $4 billion syndicated refinancing led by Afreximbank
Afreximbank leads a syndicated financing for the Dangote refinery, including $1.35 billion of its own contribution, to ease debt and stabilise operations at the Nigerian oil complex.
ADNOC L&S Defies Maritime Turbulence with Record Second Quarter Results
The Emirati logistics giant posts 40% revenue growth despite depressed maritime freight rates, driven by Navig8 integration and strategic fleet expansion.
ConocoPhillips raises asset disposals to $5 bn and adjusts its financial strategy
ConocoPhillips targets $5 bn in asset disposals by 2026 and announces new financial adjustments as production rises but profit declines in the second quarter of 2025.
Pakistan Refinery purchases Nigerian Bonny Light from Vitol for the first time
Pakistan Refinery Limited is preparing to import Bonny Light crude oil from Nigeria for the first time, reflecting the expansion of Asian refiners’ commercial partnerships amid rising regional costs.
Frontera Energy sells its stake in two Ecuadorian oil blocks for $7.8mn
Frontera Energy Corporation confirms the divestment of its interest in the Perico and Espejo oil blocks in Ecuador, signalling a strategic refocus on its operations in Colombia.
Gran Tierra invests USD15.55mn to strengthen its oil presence in Ecuador
Gran Tierra Energy confirms a major asset acquisition in Ecuador’s Oriente Basin for USD15.55mn, aiming to expand its exploration and production activities across the Andean region.
Mexico launches major public investment plan to revive Pemex and the oil industry
The Mexican government unveils an ambitious public support strategy for Petróleos Mexicanos, targeting 1.8 million barrels per day, infrastructure modernisation, and settlement of supplier debt amounting to $12.8 billion.
Kazakhstan ships 85,000 tonnes of crude oil to Hungary via Croatia for the first time
KazMunayGas has completed its first delivery of 85,000 tonnes of crude oil to Hungary, using maritime transport through the Croatian port of Omisalj as part of a broader export strategy to the European Union.
Tullow accelerates debt reduction with divestment of assets in Gabon and Kenya
Tullow marks a strategic milestone in 2025 with the sale of its subsidiaries in Gabon and Kenya, the extension of its Ghanaian licences, and the optimisation of its financial structure.
SABIC restructures portfolio amid global petrochemical overcapacity
Saudi giant accelerates transformation with $500 million capex reduction and European asset closures while maintaining strategic projects in Asia.
Japanese refiners face critical challenge of Middle Eastern oil dependency
Record Gulf crude imports expose structural vulnerabilities of Japanese refining amid rising geopolitical tensions and Asian competition.
Diamondback Energy reports $699mn net income and intensifies share buybacks in Q2 2025
Diamondback Energy posted a $699mn net income for the second quarter of 2025 and accelerated its share repurchase programme, supported by record production and an upward revision of its annual guidance.
Transocean reports a net loss of $938mn in the second quarter despite revenue growth
Swiss group Transocean reported a net loss of $938mn for the second quarter 2025, impacted by asset impairments, while revenue rose to $988mn thanks to improved rig utilisation.
bp accelerates maintenance and production with Argos extension in the Gulf of America
The rapid commissioning of bp’s Argos Southwest extension in the Gulf of America strengthens maintenance capabilities and optimises offshore oil production performance.
OPEC+ Accelerates Production Hikes Amid Shifting Oil Market Dynamics
Eight OPEC+ countries boost output by 547,000 barrels per day in September, completing their increase program twelve months early as Chinese demand plateaus.
India rejects Trump’s tariff threats over Russian oil purchases
New Delhi calls US sanctions unjustified and denounces double standard as Trump threatens to substantially increase tariffs.
BP increases net profit to $1.63 bn in the second quarter and launches share buyback
BP posts a net profit of $1.63 bn in the second quarter 2025, driven by operational performance, an operating cash flow of $6.3 bn and a new $750 mn share buyback programme.
Aramco maintains resilience with $24.5 billion profits in second quarter 2025
The Saudi oil giant posts solid results despite falling oil prices. The company pays $21.3 billion in dividends and advances its strategic projects.
Dangote entrusts refinery expansion to former Shell executive
Dangote Group appoints David Bird, former Shell executive, as head of its Refining and Petrochemicals division to accelerate regional growth and open up equity to Nigerian investors.
Indian Oil Corp acquires 7 mn barrels from the United States, Canada and the United Arab Emirates
Faced with falling discounts on Russian oil, Indian Oil Corp is purchasing large volumes from the United States, Canada and Abu Dhabi for September, shifting its usual sourcing strategy.
Consent Preferences