ExxonMobil To Exit Eagle Ford Shale With $1B Sales

US oil major ExxonMobil (NYSE:XOM) is seeking buyers for some South Texas, Eagle Ford assets operated by its subsidiary XTO, seeking to divest some 168,000 net acres valued at over $1 billion.

The assets being sold by XTO include over a thousand wells, some of which Exxon operates, and others in which it holds passive, or "non-operated" interests, and those from which it earns royalties, the sources said.

U.S. oil producers have been divesting assets and shedding non-core assets to focus on the most profitable parts of their businesses after a record dealmaking spree in recent years.

Exxon has been focused on its holdings in the Permian Basin of Texas and New Mexico, the top U.S. oilfield, as well as its assets in Guyana, considered one of the most prolific oil discoveries of recent decades, as two of its three priorities alongside LNG investments.