Exxon Mobil Launches Sale of Appalachia Shale Gas Properties

A sale by Exxon Mobil could value the Appalachian Basin assets at around $200 million based on current natural gas prices and existing production from the wells, a person familiar with the matter said.

Shariq Khan, Reuters

Exxon Mobil Corp. on Jan. 11 launched the sale of shale gas properties stretching across 27,000 acres in the Appalachian Basin of Ohio, the company confirmed, part of an ongoing divestiture of U.S. assets.

The top U.S. oil producer is marketing 61 wells that last year produced around 81 MMcf/d of natural gas, according to a marketing document viewed by Reuters. The sale includes another 274 wells operated by other companies.

A sale could value the assets at around $200 million based on current natural gas prices and existing production from the wells, a person familiar with the matter said.

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