XOM - Exxon said to be considering Bakken asset sale worth ~$5b

Exxon (NYSE:XOM) is said to be weighing a sale of the Company's  Bakken asset, after "getting interest" according to Bloomberg. According to Offshore Technology, Exxon (XOM) produces ~116kb/d of liquids and ~22kboe/d of gas in the basin, for total production of ~138kboe/d. At the reported $5b valuation, Exxon (XOM) assets would fetch ~$36k per flowing barrel. For context, the recently announced Whiting (NYSE:WLL)/ Oasis (NASDAQ:OAS) merger in the Bakken would produce ~168kboe/d, and the combined companies are currently worth ~$6.2b (market caps + net debt), for a valuation of ~$37k per flowing barrel. The Exxon (XOM) balance sheet has largely been repaired, and during the Q4 conference call CEO Darren Woods indicated the Company's highest return opportunity is through share repurchases, suggesting that asset sale proceeds could help fund the Company's buyback program.

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Exxon said to be considering Bakken asset sale worth ~$5b