ExxonMobil has signed an agreement with subsidiaries of BKV Corporation for the sale of operated and non-operated Barnett Shale gas assets in Texas for USD 750 million with additional payments contingent on future natural gas prices. Sale supports corporate strategy to prioritize investments on advantaged assets with lowest cost of supply. Transaction expected to close in second quarterExxonMobil removed the Barnett Shale gas assets operated by its subsidiaries XTO Energy Inc. and Barnett Gathering LLC from its development plan in 2020. As part of the agreement, all employees with ExxonMobil subsidiaries in the Barnett Shale will receive full employment offers with BKV. The sale is expected to close in the second quarter of 2022.
ExxonMobil has signed an agreement with subsidiaries of BKV Corporation for the sale of operated and non-operated Barnett Shale gas assets in Texas for USD 750 million with additional payments contingent on future natural gas prices. Sale supports corporate strategy to prioritize investments on advantaged assets with lowest cost of supply. Transaction expected to close in second quarterExxonMobil removed the Barnett Shale gas assets operated by its subsidiaries XTO Energy Inc. and Barnett Gathering LLC from its development plan in 2020. As part of the agreement, all employees with ExxonMobil subsidiaries in the Barnett Shale will receive full employment offers with BKV. The sale is expected to close in the second quarter of 2022.
