Exxon plans to sell Bakken assets – Bloomberg News

March 10 (Reuters) – Exxon Mobil (XOM.N) is considering selling assets in Bakken, North Dakota after attracting interest from potential suitors, Bloomberg News reported on Thursday, citing people familiar with the matter.

Exxon shares rose 2.31% to $84.71 in afternoon trading.

Bakken’s properties could be worth around $5 billion and the oil major is in the final round of talks with bankers to help start the sale process, according to the report. (https://bloom.bg/3hV10DQ)

An Exxon spokesman told Reuters the company does not comment on rumors or speculation.

The top U.S. oil producer set a goal three years ago to raise $15 billion through asset sales and brought several U.S. and international assets to market as energy prices soared. multi-year highs. Read more

The company embarked on a major cost-cutting drive after suffering a historic loss in 2020. In January, Exxon announced a sweeping restructuring of its global operations.

Last week, Exxon said it would further reduce spending and its oil and gas production portfolio to boost yields. Read more

Reporting by Rithika Krishna in Bengaluru; Editing by Shailesh Kuber

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