ExxonMobil Deciding Fate of XTO Asset Value in 4Q

Last week ExxonMobil issued its third-quarter 2020 update. The company announced it is currently reviewing and making a decision about whether or not to write down (impair) the value of its North American dry gas assets--i.e. XTO Energy. If it writes down the value XTO assets, it will take a huge write-down in value (assets currently on the books at a value of $25-$30 billion). NOTE: MDN revised this post on 11/9/20 to reflect new information. See an extended explanation below.

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