Exxon Mobil Eyes Permian Assets Sale To Fuel Shale Expansion: Report
Portfolio Pulse from Lekha Gupta
Exxon Mobil plans to sell $1 billion worth of conventional oil assets in the Permian Basin to focus on shale production after acquiring Pioneer Natural Resources. The company aims to produce 4.3 million barrels of oil and gas daily this year. Investors can gain exposure to Exxon Mobil through ETFs like XLE and IYE.
August 28, 2024 | 10:43 am
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POSITIVE IMPACT
The iShares U.S. Energy ETF (IYE) offers exposure to Exxon Mobil's strategic asset sales and focus on shale production.
IYE includes Exxon Mobil, and its strategic moves, such as asset sales and shale production focus, could positively influence the ETF's performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Exxon Mobil's strategic moves through the Energy Select Sector SPDR Fund (XLE), which includes XOM as a major component.
XLE includes Exxon Mobil as a major component, so changes in Exxon's strategy, such as asset sales and shale focus, could positively impact the ETF's performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Exxon Mobil is selling $1 billion in Permian assets to focus on shale production after acquiring Pioneer Natural Resources. This aligns with their strategy to optimize their portfolio.
The sale of Permian assets is a strategic move to focus on shale production, which could enhance Exxon's growth prospects. The recent acquisition of Pioneer Natural Resources supports this shift, indicating a positive outlook for Exxon's future production capabilities.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100