Hilcorp Bags $1B Permian Deal

Exxon Mobil Corp. will offload some of its conventional oil assets in the Permian Basin, selling to Hilcorp Energy for approximately $1 billion, according to industry insiders who spoke to Reuters on Tuesday. This move aligns with Exxon’s aggressive shift toward higher-margin shale plays following its recent $60 billion acquisition of Pioneer Natural Resources. Exxon expects the deal to close in early 2025. The move exemplifies Exxon's strategy of pivoting from aging vertical wells to the more lucrative shale assets that define the Permian’s...