The transaction is expected to close in the second quarter of this year. ExxonMobil has announced that it has signed an agreement with subsidiaries of BKV Corporation for the sale of operated and non-operated Barnett Shale gas assets in Texas for $750 million. The deal includes additional payments, contingent on future natural gas prices, according to ExxonMobil, which noted that the sale supports its corporate strategy to prioritize investments on advantaged assets with the lowest cost of supply. The transaction is expected to close in the second quarter of this year. ExxonMobil highlighted that it had removed the Barnett Shale gas assets, operated by its subsidiaries XTO Energy Inc. and Barnett Gathering LLC, from its development plan in 2020. As part of the deal, all employees with ExxonMobil subsidiaries in the Barnett Shale will receive full employment offers with BKV, ExxonMobil revealed. “We are focused on delivering the most […]