As everyone has probably heard the Fayetteville Shale will be taking bids this month to sale it off. Has anyone heard who will buy them?
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Best wishes to you all in the Fayetteville Shale office. Now you all will know how the ones who were let go in December felt with not one person giving a cr-p about us. Everyone is NOTHING but a NUMBER to ExxonMobil. Enjoy your sleepless nights from here on out till you find out if you have a job or not, and if you don’t enjoy not hearing from anyone in that office again, cause no one cares about anyone but themselves there, oh and you can’t forget all the bu-t kissing to get to the top, you have officially reached as high as your going at Heber Springs and the exit door is in your near future. Hope you enjoyed your years at XTO and much as I did. ✌🏼
Continuing to have garage sales to pay the house note. What happens when the garage is empty?
Op here. I’m not surprised they are selling the Fayetteville Shale. They’ve been saying it’s for sale for the last 6-7 years. I was just wondering if anyone has any insight to who might be buying us. Thanks for anyone’s input.
Also, does anyone know what happens with our pension when they sell us?
Unfortunately a lot of upstream assets are being marketed. How many will actually get sold is the big question.
No secrets here. We released a press release in December 2020 that our North America dry gas assets were for sale.
ExxonMobil Announces Plan to Divest “Certain” N.A. Dry Gas Assets
December 1, 2020 Energy Companies, Exxon Mobil, XTO
https://marcellusdrilling.com/2020/12/exxonmobil-announces-plan-to-divest-certain-n-a-dry-gas-assets/
Yesterday ExxonMobil released the outlines of its development plan for the next five years. We previously alerted you that Exxon was looking to write down (impair) up to $30 billion of its assets, including (potentially) its assets in the Marcellus/Utica (see ExxonMobil Deciding Fate of XTO Asset Value in 4Q).
Indeed it has happened, albeit not quite as bad as expected.
Exxon says the impairments, which include assets in the M-U, will be on the order of $17-$20 billion.
Exxon is also considering a sale of those impaired assets.
ExxonMobil Deciding Fate of XTO Asset Value in 4Q
November 6, 2020 Energy Companies, Exxon Mobil, XTO
https://marcellusdrilling.com/2020/11/exxonmobil-deciding-fate-of-xto-energy-in-4q-may-sell/
Last week ExxonMobil issued its third-quarter 2020 update. The company announced it is currently reviewing and making a decision about whether or not to write down (impair) the value of its North American dry gas assets–i.e. XTO Energy.
If it writes down the value XTO assets, it will take a huge write-down in value (assets currently on the books at a value of $25-$30 billion).
It is definitely true. We had a zoom meeting with upper management and an HR representative this morning. Hopefully Merritt will buy it and not Flywheel. They said the company is selling all of the dry gas plays.
Not true. Best asset ever. Dark horse crown jewel