In 2024, XTO Energy, a subsidiary of Exxon Mobil, made headlines with its strategic decision to divest oil and gas facilities across key regions in the United States. This move reflects a broader trend within the energy sector, as companies reposition themselves to maximize value from their most competitive assets. Among the most notable transactions this year was XTO’s sale of its facilities in the Freestone Trend area of East Texas to Houston-based Hilcorp Energy.

The Permian Basin remains a cornerstone of energy production in North America, with companies like XTO Energy continuing to make significant strides in advancing drilling operations. A recent summary of XTO’s collaboration with H&P (Helmerich & Payne) reveals their robust drilling activity in the region throughout 2024 with 32 different drilling rigs and 576 wells drilled in 2024. This post dives into key insights from the data.