When you’re looking at a mind-boggling $60.6 billion in debt even a $4.7 billion profit in the second quarter falls like a lone raindrop in the Mohave. Coming off an historic $22.4 billion loss in 2020, ExxonMobil is into the last year of a stalled, three-year debt reduction campaign with a goal of raising $15 billion by December. It’s achieved about a third of that so far with potential deals on the table valued at $2.15 billion and a ticking clock. Reese Energy Consulting today is following the latest news from Exxon and its take-no-prisoners divestment challenge that includes For Sale signs on assets in Asia, Africa, Europe, and the U.S. If you’re in the market for natural gas properties here at home, the world’s largest energy producer just might have you covered for the right price. Sales efforts now are underway to offload Exxon XTO’s 662,000 acres and 5,000 wells in the Arkansas-Fayetteville producing more than 271 MMCFD. That should make a dent. In addition to Ark., XTO also operates natural gas assets in the Marcellus/Utica, Haynesville, Barnett, Permian, Hugoton, DJ, and Bakken, as well as in Western Canada.
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Exxon Mobil Corporation, stylized as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller’s Standard Oil, and was formed on November 30, 1999, by the merger of Exxon and Mobil.