Exxon is reportedly examining options to expand its liquefied natural gas (LNG) footprint and strengthen its position in Asian markets.
- Exxon is reviewing a range of potential acquisition targets, with Woodside specifically named among them, reported Bloomberg.
- The company has reportedly been holding early-stage discussions internally.
- ExxonMobil and Woodside are long-standing 50/50 partners in Australia’s Bass Strait through the Gippsland Basin Joint Venture.
NYSE-listed shares of Woodside Energy Group Ltd. (WDS) jumped 8% on Friday following reports that Exxon Mobil Corp. (XOM) is studying potential takeover targets that include Australia’s largest energy company.
XOM shares were trading 1% higher at the time of writing.
XOM-WDS Potential Deal
Exxon is examining options to expand its liquefied natural gas (LNG) footprint and strengthen its position in Asian markets, reported Bloomberg. An LNG-focused deal has gained priority for the U.S. major following disruptions to global supply caused by the conflict in Iran, according to people familiar with the matter cited by Bloomberg.
Bloomberg reported that Exxon is reviewing a range of potential acquisition targets, with Woodside specifically named among them. The company has reportedly been holding early-stage discussions internally. The deliberations are preliminary with no certainty of an offer, the report said. The development comes as Exxon continues to pursue growth in the energy sector through deals, following its major acquisition of Pioneer Natural Resources.
Woodside is a major LNG exporter with significant operations in Australia and growing international exposure. Exxon has been active in LNG and has sought to bolster its portfolio in the field after lagging peers like Shell Plc and TotalEnergies SE.
ExxonMobil and Woodside are long-standing 50/50 partners in Australia’s Bass Strait through the Gippsland Basin Joint Venture, which ExxonMobil (via Esso Australia) has operated for more than 50 years. In July 2025, the two companies agreed that Woodside would assume operatorship of the assets.
How Did XOM And WDS Retail Traders React?
On Stocktwits, retail sentiment around XOM stock rose from ‘neutral’ to ‘bearish’ over the past 24 hours while message volume stayed at ‘normal’ levels.
Meanwhile, sentiment around WDS stayed at ‘bearish’ levels, coupled with ‘high’ message volume.
While XOM has gained 21% this year, WDS has added 45%.
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