Top U.S. oil producer Exxon Mobil Corp plans to sell a portion of its assets in North Dakota's Bakken shale formation, the company told Reuters on Tuesday. Following a wave of megamergers in U.S. shale patches,

Exxon Mobil (NYSE:XOM) plans to sell a portion of its assets in North Dakota's Bakken shale formation, aiming to fetch at least $500M, Reuters reported Tuesday. Exxon (XOM) is "exploring market interest for select assets in the Bakken Shale Play,

The sale, which could potentially bring in upwards of $500m, forms part of Exxon's broader strategy of regular portfolio assessment.

XOM plans to sell part of its North Dakota Bakken shale assets. This move is expected to generate more than $500 million as the company refocuses on high-growth regions.