Exxon boosts unconventional gas position

The deal will give Exxon access to XTO's resource base, which is the equivalent of 45 trillion cubic feet of gas and includes shale gas, tight gas, coal bed methane and shale oil.

After closing the transaction in the second quarter of 2010, Exxon plans to launch a new upstream organisation to manage the global development and production of unconventional resources. This will be headquartered in XTO's offices in Fort Worth, Texas.

According to Exxon, the new organisation will enable the rapid dev