Exxon boosts unconventional gas position
Exxon Mobil and XTO Energy have announced an all-stock transaction valued at $41 billion, in a move designed to enhance Exxon’s position in unconventional natural gas and oil resources.
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
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