ExxonMobil, the largest oil producer in the U.S., is reportedly selling some of its Bakken shale assets in North Dakota. This move, expected to fetch over $500 million, aligns with the company’s strategy to focus on higher-growth regions after its recent acquisition of Pioneer Natural Resources. While ExxonMobil remains committed to North Dakota’s shale production, the sale highlights the company’s efforts to streamline its portfolio and maximize returns.
ExxonMobil’s $1.28 billion asset sale to Seplat Energy in Nigeria is on the verge of approval, with President Bola Ahmed Tinubu affirming the government’s commitment to free enterprise and streamlined regulatory processes. The deal, which faced initial challenges from the state oil company NNPC, signals a positive shift for Nigeria’s upstream petroleum sector and potentially unlocks significant investments from ExxonMobil in the country’s deep-water operations.
ExxonMobil is reportedly planning to sell conventional oil assets in the Permian Basin, valued at $1 billion, as it shifts its focus to expanding shale production following its acquisition of Pioneer Natural Resources. The move aligns with the company’s strategy to optimize its portfolio and focus on growth in its core shale operations.
New York Community Bank (NYCB) reported a first-quarter loss of $335 million, primarily driven by soured commercial loans and higher expenses. However, the bank’s stock surged on Wednesday after the company announced new performance targets and plans to sell $5 billion in assets to improve liquidity.
