IRVING, Texas — ExxonMobil signed an agreement with subsidiaries of BKV Corp. for the sale of operated and non-operated Barnett Shale gas assets in Texas for $750 million with additional payments contingent on future natural gas prices.

ExxonMobil removed the Barnett Shale gas assets operated by its subsidiaries XTO Energy Inc. and Barnett Gathering LLC from its development plan in 2020.

“We are focused on delivering the most competitive returns to our shareholders by developing opportunities with the lowest cost of supply and further strengthening our industry-leading upstream position,” said Liam Mallon, president of ExxonMobil Upstream Co. “Our subsidiaries have operated in the Barnett Shale safely and responsibly for nearly two decades, and we are encouraged by BKV’s plans to develop the resource in line with its stated pathway to net-zero greenhouse gas emissions by 2025.”

For more information, visit www.exxonmobil.com.