U.S. driller Presidio in talks to buy Exxon shale gas wells - Reuters
Fayetteville Shale’s production capacity has declined by half since 2016, to around 227 million cubic feet per day
By Arghyadeep Dutta
Published - Dec 21, 2021, 01:51 PM ET
Last Updated - Feb 12, 2024, 02:23 PM EST
• Fayetteville Shale’s production capacity has declined by half since 2016, to around 227 million cubic feet per day
• The assets were valued between $400 million and $500 million
Texas-based Presidio Petroleum LLC is in advanced talks with Exxon Mobil Corp to acquire around 5,000 shale gas wells from the oil giant Reuters on Monday, citing two people familiar with the matter.
Since last year, Exxon’s XTO Energy unit has been seeking potential buyers for its assets in the Fayetteville Shale in Arkansas.
