Exxon to sell older Permian assets to Hilcorp in $1 billion deal, sources say
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Exxon Mobil Corp is selling its conventional oil drilling assets in the Permian Basin to Hilcorp Energy for approximately $1 billion.
November 12, 2024 | 3:45 pm
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Exxon Mobil Corp is divesting its conventional oil drilling assets in the Permian Basin to Hilcorp Energy for $1 billion, potentially streamlining its operations and focusing on more profitable ventures.
The sale of older assets for $1 billion could positively impact Exxon's stock by allowing the company to focus on more profitable operations and improve its balance sheet. This strategic move may be seen as a positive step by investors.
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