March 2015, Vol. 242, No. 3

Features

XTO Proves Unconventional Growth Machine for ExxonMobil

In summer 2011, executives at super-major ExxonMobil were telling financial analysts during a quarterly earnings conference call about an amazing 70% boost in a year’s time of the energy giant’s unconventional natural gas-weighted portfolio to 76 Tcfe. The reason was simple, according to David Rosenthal, the current controller at ExxonMobil and at the time its investor relations chief. He summed it up in three letters, X-T-O. Fort Worth, TX-born and raised, XTO Energy Inc. was founded 30 years ago as Cross Timbers Oil Co. before changing its name in 2001. Six years later, it paid Dominion Resources $2.5 billion for 1 Tcfe of oil and natural gas reserves in the Rocky Mountains, T

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