Exxon Mobil Corp has announced its intention to sell a portion of its assets located in North Dakota's Bakken shale formation. This decision is part of the company's broader strategy to optimize its upstream portfolio.
The planned divestment aims to streamline ExxonMobil's asset base, allowing for a greater focus on its most advantaged and high-return projects, such as those in the Permian Basin and Guyana. This strategic move aligns with the company's capital allocation priorities.
By divesting these assets, ExxonMobil seeks to enhance its overall capital efficiency and improve per-barrel profitability. The sale is expected to generate capital that can be reinvested into core growth areas or returned to shareholders.
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