ExxonMobil to sell share of Aera Energy JV
Published by Sara Simper,
Editorial Assistant
World Pipelines,
ExxonMobil affiliates have signed an agreement to sell all of ExxonMobil’s interests in the Aera oil-production operation in California to Green Gate Resources E, LLC, a subsidiary of IKAV.
The transaction involves a share sale of Mobil California Exploration & Producing Asset Company. In addition, ExxonMobil affiliates have entered into a separate agreement for the sale of an associated loading facility and pipeline system.
“This sale is part of our strategy to continually strengthen our industry-leading portfolio, focusing our investments in low-cost-of-supply oil and natural gas to meet consumer demand and create value for our shareholders,” said Liam Mallon, President of ExxonMobil Upstream Company.
Read the article online at: https://www.worldpipelines.com/business-news/02092022/exxonmobil-to-sell-share-of-aera-energy-jv/
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