According to sources familiar with the matter, Exxon recently opened a virtual data room to market the assets, which span roughly 168,000 net acres and include more than a thousand wells. Some of the wells are operated by Exxon, while others are passive or royalty-based holdings. The assets are valued at over $1 billion, though talks remain confidential, News.Az reports, citing Reuters.
An Exxon spokesperson confirmed that XTO Energy is testing market interest in the Eagle Ford properties. “This marketing decision is consistent with our strategy to continually evaluate and optimize our portfolio,” the company said, declining to provide additional details. Exxon is reportedly handling the process internally without hiring investment banks.
The potential sale comes as major U.S. oil producers divest non-core assets to concentrate on higher-return operations after years of aggressive dealmaking. Exxon’s current strategic priorities include its extensive holdings in the Permian Basin, its major offshore developments in Guyana, and global liquefied natural gas (LNG) projects.
Since acquiring Pioneer Natural Resources in a $60 billion deal in 2024, Exxon has accelerated portfolio reshaping. In recent years, it has sold its French subsidiary Esso and exited the Williston Basin in North Dakota, Montana, and Canada. The company has also announced plans to reduce its global workforce by around 2,000 employees.
Market conditions are also influencing asset sales across the shale sector. Growing global oil supply and weakening prices have raised concerns about profitability for U.S. shale producers. West Texas Intermediate crude recently settled near $61 per barrel — about 18% lower than a year ago — prompting companies to cut costs, improve efficiency, and strengthen balance sheets.
If completed, the Eagle Ford divestment would further sharpen Exxon’s focus on top-tier assets while reflecting broader industry efforts to adapt to a more challenging oil price environment.
