Shale Gas News and Information

XOM and XTO follow up

The morning after on what we now learn is the largest Exxon Mobil acquisition since Mobil.

But this isn't just about them: This is about shale gas. As Bloomberg says via Business Week

Exxon Deal May Be Green Light for Shale
Others may have to follow its $30 billion purchase of XTO, a company that specializes in fracturing rock with water and sand to make natural gas flow

If you didn't know about shale already, you do know.  Those who have doubts may find themselves even more isolated than before.  Exxon's takeover of XTO is a sign that shale gas has arrived.  

Similarly,  newspapers around the world suddenly find themselves having to do some research to explain to their readers what shale gas is, one reason why the NHO webstats went crazy yesterday.

But even the pros at somewhere like Petroleum Economist didn't see this one coming:

ExxonMobil tends to act slowly, but decisively, and this week's purchase of XTO Energy will send tremors through the oil and gas world. The move could trigger further consolidation among the leading shale-gas players in the US, or draw in other majors

Who gets bought next is only a short term issue for some gas companies.  What's important here is that December 14 was the day shale gas came of age.