Wednesday, March 10, 2010

Exxon Mobil (NYSE:XOM) Chasing Shale Fields

Exxon Mobil and Shale

Slow to get into the enormous potential represented by shale fields, Exxon Mobil has now smelled the roses and is sprinting to catch up with some of its rivals who have been quietly working to cut costs to extract oil and gas from teh shale.

This is why Exxon recently bid $31 billion to acquire XTO Energy (NYSE:XTO) to get back ahead of the curve. XTO is the leading company which extracts energy from what is called "unconventional" sources.

With most large discoveries behind oil and gas companies (possibly other than those under the ocean floor), large energy companies are looking for new sources of gas and oil, with shale being the next wave of source for the industry.

Exxon Mobil and Shale

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