In particular, Shell U.K. Limited and Esso Exploration and Production UK Limited will sell a portfolio of 11 operated offshore assets and one exploration field, including Shamrock, Caravel, Corvette, Brigantine, Leman, Galleon, Skiff, Carrack Main, Cutter, Carrack East, Barque, and Clipper.

These assets are linked to the Shell-operated onshore Bacton Gas Processing Terminal via the Leman and Clipper fields.

Read: Shell Requests Approval for Exploration Wells Off South Africa’s Coast: Report

These assets produced around 28,000 boepd in 2023, representing about 5% of the U.K.’s total gas output.

This month, Exxon reportedly finalized a deal to sell its Malaysian oil and gas assets to state energy firm Petronas, marking its exit from the country's upstream sector, where it once held a dominant position.

Investors can gain exposure to the XOM via Energy Select Sector SPDR Fund (NYSE:XLE) and IShares U.S. Energy ETF (NYSE:IYE).

Price Action: XOM shares are up 1.76% at $118.15 at the last check Tuesday.

Photo: Del Henderson Jr. via Shutterstock

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