Exxon Mobil Corp on Thursday said it signed a deal to sell North Texas natural gas properties to producer BKV Corp for $750 million, as part of a wider move to shed unwanted assets.
Exxon, the top U.S. oil producer, set a goal three years ago to sell by last December $15 billion in assets to pay down debt and focus on lower cost oil production. But it has achieved about half its goal as sales stalled during the pandemic.
The company, which suffered a historic $22.4 billion loss in 2020, has used this year’s skyhigh oil prices to pay down debt and increase payouts to shareholders.
Read more: Reuters
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