Exxon drilling very close to home

Exxon drilling very close to home

Exxon Mobil, the oil conglomerate whose operations span the globe, is now drilling for natural gas very close to home, according to a news report Monday.

The world’s largest publicly traded oil company, by market capitalization, has begun drilling in the Barnett Shale gas field around Forth Worth, Texas, said The Wall Street Journal.

Exxon’s global headquarters is located in Irving, Texas, about 30 miles from Fort Worth.

The move is a joint venture with Dallas company Harding Co., said the paper.

Barnett Shale is the fastest growing natural gas site in the country, but so far has been only utilized by smaller energy companies.

Shares of Exxon rose 0.3 percent on the New York Stock Exchange Monday.

Exxon competitor Royal Dutch Shell has also expressed interest in drilling in Barnett Shale, said the Journal.

Share this post