FORT WORTH — ExxonMobil is moving to replenish its dwindling domestic energy resources and dive into the fast-growing and environmentally palatable market for natural gas by acquiring the USA's largest gas producer.
The energy industry giant plans to buy XTO Energy by issuing about $31 billion worth of stock to XTO shareholders. It also has agreed to assume about $10 billion of XTO's debt. For that, ExxonMobil would get XTO's huge cache of rights to drill mostly for natural gas in the country's most productive oil shale fields.
Full Story: ExxonMobil bets on natural gas in $31B deal for XTO - Shreveport Times
The energy industry giant plans to buy XTO Energy by issuing about $31 billion worth of stock to XTO shareholders. It also has agreed to assume about $10 billion of XTO's debt. For that, ExxonMobil would get XTO's huge cache of rights to drill mostly for natural gas in the country's most productive oil shale fields.
Full Story: ExxonMobil bets on natural gas in $31B deal for XTO - Shreveport Times
