Exxon Mobil Corporation (NYSE:XOM) is reportedly planning to sell conventional oil assets in the Permian Basin, which could be valued at $1 billion.
The company is planning to shift its focus to expanding shale production following the completion of $60 billion acquisition of Pioneer Natural Resources Co. in May, reported Bloomberg.
Read: Exxon Mobil Reduces Staff After Pioneer Merger: Report
The assets include older wells in the Permian’s Central Basin that produce small but steady oil volumes, the report noted, citing sources familiar with the matter.
The company said in a ...
