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Exxon Mobil To Buy More Shale Formations
Exxon Mobil is seeking to make acquisitions to expand its gas holdings.
Exxon Mobilis seeking to make acquisitions to expand its gas holdings,Bloombergreports. The U.S. multinational oil and gas company is considering over a dozen shale-rock formations globally. The firm has amassed shale leases in Texas, Pennsylvania, Arkansas and Louisiana for $3 billion over a year.
In June 2010, Exxon took overXTO Energyfor$34.9 billion. Exxon will also expand its international shale-gas base in Poland and has teamed up withChina Petrochemicalto find resources in China.
Click here for the story fromBloomberg.