Exxon Mobil bets $31 billion on natural gas
XTO Energy deal seen as bold response to shifts in environmental regulations
With prices low, and the possibility of carbon emission caps looming, analysts expected it would be just a matter of time before one of the major energy companies took a plunge into the natural gas market. Now they expect others to follow suit.
“I think this is the first domino to fall,” said Curtis Trimble, a Houston-based analyst for Natixis Bleichroeder. “In future weeks, months or quarters we can expect to see other deals as well.”
That means American independent oil and gas producers such as Chesapeake Energy, Devon Energy and The Woodlands-based Anadarko, may get a look from other energy companies seeking an entrée into the gas market.
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